Comments on: FHA Condo Rules Change (Again)

By: Susan@West Palmdale

Susan@West Palmdale — Sat, 03 Jul 2010 23:20:14 +0000

The government is bending over backwards to repair the economy and it’s a good thing. On one hand, FHA needs to make the rules more strict to get loans in order to avoid more foreclosures, but if it does so, then it becomes harder to purchase a property in an time when the real estate market is face down. I don’t envy their tough choices, but I’m glad they are trying to make sense of the situation and make changes as they become necessary.

By: Geoff

Geoff — Sat, 24 Apr 2010 00:03:04 +0000

Thanks for your feedback. Yes, the FHA can make financing difficult, but they have helped the market through a difficult time. Now the private lenders are loosening credit scores again. We're seeing some big players get back into the jumbo loan market with very attractive rates and lower down payments. San Diego luxury homes are going to start moving again, and we may be seeing the tail end of the opportunity to grab great properties for below-market prices. The entry level is already booming with more overbids than underbids. In fact, that will be the topic of my next blog post. Stay tuned!

By: Gil Trower

Gil Trower — Sun, 18 Apr 2010 03:26:53 +0000

Nice article, Update is that FHA has placed in effect the new standards. Article is correct about the difficulty in obtaining FHA as well as FNMA and FHLMC financing of condos. HUD needs to recognise the need for first time home buyers and high LTV financing. Unfortunately, they will not make any changes until it is too late as prices start to rise, rates go up and inflation arrives. NICE Article.

By: Geoff

Geoff — Fri, 09 Apr 2010 23:07:03 +0000

Yes Terry, the Federal Housing Administration’s FHA Loan Program is nation-wide. But the FHA does have different loan limits for each county in the country, which are based upon the median home values in the local area.

By: Kerry Twill

Kerry Twill — Wed, 07 Apr 2010 08:38:07 +0000

Do you think this applies to places in NYC too?

By: credit data leads

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By: Youth Sports Grants

Youth Sports Grants — Wed, 10 Feb 2010 03:04:54 +0000

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