Federal Housing Administration (FHA) mortgage loans can be a great option for home buyers to use. Similarly, condos can be a great option for people either looking to get their feet in the door of real estate or to downsize and reduce the amount of maintenance they have to do. Unfortunately, there is a lot of confusion regarding whether we can use FHA loans to buy condos.
In this video, we cover recent guidelines changes regarding FHA loans and condos and separate the real estate myths and facts from each other. Buying a condo in NYC can be hard enough without the correct information you need to succeed. In terms of your specific eligibility for an FHA loan and for buying a condo with an FHA loan, you can always speak to FHA approved lenders for more information.
FHA & CONDOS: For more information about recent changes to FHA guidelines re: condos, please view the HUD press release here: https://www.hud.gov/press/press_releases_media_advisories/HUD_No_19_121
MORE VIDEOS: To watch the entire How To Buy Your Home Series, START HERE: https://www.youtube.com/playlist?list=PLzIgF1jn0xlC1HB_AzW83OdJlcgE-jg8X To learn about a first-time home buyer program that can give you up to $15,000 towards your home purchase, WATCH HERE: https://youtu.be/H16vjmDiWw8
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