Real Estate Leaders Speak Out Against RacismTop RE brokerages recently contacted agents. A Keller Williams task force will work “to eliminate racial disparity.” Redfin plans a deeper analysis of
It Is Now Easier For FHA Buyers To Purchase A Condo
As of October 15th, FHA will insure mortgages for selected condominium units in projects that are not currently HUD approved. An individual unit may be eligible for Single-Unit Approval under the following conditions:
The individual condominium unit is located in a completed project that is not HUD approved;
Project must have at least 50% primary occupancy
For condominium projects with 10 or more units, no more than 10% of individual condo units can be FHA-insured; and projects with fewer than 10 units may have no more than two FHA-insured units.
This new condominium policy is part of a broader Administration objective to reduce regulatory barriers that currently restrict affordable homeownership opportunities.
Contact me today to learn more about this new policy and how it can benefit your clients!
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