FHA Certification

 

We can help with FHA Certification whether it's a new application or a renewal of the requirements.

 

What does that mean to you?

 

  • Currently 40% of all new loans are FHA Insured
     

  • Reverse Mortgages Now Require Associations to be FHA Approved
     

  • Fannie Mae & Freddie Mac will accept FHA Approval for Condo loans
     

  • Recently Approved Mortgage deal provides FHA with an additional $1 billion in Cash for FHA insurance.
     

  • FHA Approved Condos for sale attract a larger buyer pool
     

  • Lower down payment and FICO score requirements for potential buyers of an FHA Approved Condo
     

  • FHA loans are assumable, meaning they can be transferred from one buyer to another
     

  • FHA Approval now indicates a Financially Healthy Association to all mortgage lenders

 

        For more information Contact Westford

 

Westford for Condo Management

"As of Febuary 1, 2010 an entire condominium development must apply to HUD and be granted FHA approval before a buyer can purchase a unit in an association with an FHA loan or before an existing unit owner can refinance into an FHA loan."

Assistance with

FHA Certification