Assistance with

FHA Certification

"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."

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