New rules could make it easier to get mortgages for condos

The Federal Housing Administration is getting ready to implement new rules that could, in some cases, make it harder to get a mortgage to buy a. directly affect people who want to buy condos with.

Fannie Mae has made some changes that may make it easier to get financing for your condo. Condos are looked at differently than single-family housing. With a single-family house, the rules for financing are primarily concerned with how good the property condition is and whether the house could be sold on the open market.

Condos are often the most affordable option for first-time homebuyers, but federal rules have made it hard to get mortgages on them. That could change with new rules released last week by the Federal.

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Through a new rule announced wednesday, the Federal Housing Administration (FHA) is making it easier for condo owners to get reverse mortgages and other fha financing. condominiums can make a lot.

How to Get a Condo Loan The rules for getting a condo loan are strict .. Sherry did not expect her lender to refuse to make a loan because lenders had previously made loans on other condos in the building.. Get up to Speed on the Various Types of Mortgage Loans.

Discussion about. Im trying to get a mortgage on new construction condos. every bank is requiring 70% being sold. how on earth is anyone going to buy these days. Wells Fargo and Chase is asking for 70%.. Chase is asking for 70% sold also.. HSBC is asking for 90% sold..

Typically, cities set zoning rules that dictate what type of housing can be built in various parts of. projects wind up including far fewer than seven new homes. Essentially Seattle has managed to.

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Glide, if you will, up its escalators and you can get a manicure-mid-meditation at. gym below street level and tethered to high-end condos above. “People said vertical retail wouldn’t work in New.

In addition to the liberalized condo-to-commercial ratio, the agency announced three other changes designed to make it easier to finance a condo with an FHA loan. FHA is allowing single investors to buy up to half the units in a project, up from 10 percent previously. That move is as likely to help suburban and urban markets as resort areas.