Well this is not as loaded a topic as the title might indicate.  But it is very necessary to know what you are up against if you are thinking of purchasing a Condo or Townhome that has an association – and are utilizing an FHA loan to purchase it.

We have found in this Real Estate market that some of the associations have become insolvent – where they don’t have the money to continue pushing forward with the necessary minimums.  FHA is a loan program from the Federal Housing Administration – they want this product to protect you.  Therefore, if you are thinking about purchasing a condo or a townhome, you will need to see if the property is on their approved list.

I have attached the portal at the bottom of this post.  If you are looking to purchase Real Estate and this is the property and loan profile you are going to utilize – let me know and I will make some calls. 

There are quite a few rules and if the condo is not on their approved list – don’t lose heart, it might be that we can obtain “spot approval”.

With “spot approval” specific guidelines also apply and we are aware of the nuts and bolts of those guidelines.

If it is approved – you are good to go give us a call and let us recon it for you – then we will get you out there to view it to see if it stacks up.

We are Paris911.com with RE/MAX of Valencia – we travel throughout Southern California Representing our Clients with all of their Real Estate Needs.

Here is the link to see whether a Condo Community or Town-home is on the FHA (Federal Housing Administration) approved list.