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Condominium Approvals
NAR supports developing policies that will give current homeowners and potential buyers of condos access to more flexible and affordable financing opportunities and a wider choice of approved condo developments.
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The following is a summary of an NAR webinar about issues related to the difficulties with condo financing, especially in resort and second home real estate markets.
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Here's some information about requirements for condominium unit mortgages, underwriting condominium projects, condominium occupancy rules, eligibility of loans secured by units in condominiums, and many other resources.
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The FHA’s role in healthy housing markets has never been more critical than today. As private lenders fled the market, FHA became one of the primary sources of safe affordable mortgage financing for American families. In order to meet demand and fulfill its mission of fostering sustainable homeownership, several legislative changes are needed to fully modernize the program.