New FHA Rules for Condo Mortgages

Courtesy AustinTowers Downtown Condo Blog  Tue, 09/15/2009 - 8:35pm

FHA loans provide qualified buyers an opportunity to purchase units with loans that they would not otherwise qualify for.

In pariticular, FHA loans allow for smaller down payments, often as low as 3% of the purchase price. Next month, the rules behind these Federal loans will be changed substantially, making many condo projects and buyers ineligible for the first time.

When it comes to downtown Austin, FHA loans are the exception and not the rule. Many new condo developments...



 

More related items

Snow Expected In Central Texas
Snow is in the forecast for Central Texas.The National Weather Service has issued a Winter Weather Advisory for the Hill Country from 6 a.m. to noon.“There is good potential for the...

Me, APD, and 'Babysitting While White,' Part Deux
Walking home in East Austin on a Friday night, we had no one to fear but Austin PD (via Grits for Breakfast)

Support Your Trail: Valentine's Social Run
For Valentine’s Day, consider showing some love to The Trail Foundation.  Join them at City Hall Plaza at noon on Tuesday, February 14, 2012 and take part in either a one mile or...

Three's Company & Empty Nest: An Interview w/ Stag Comedy
It was just this past November that I was doubled over in my chair in a dark room at Coldtowne Theater, tears of laughter running down my face, trying to catch my breath while watching Stag...

Whole Earth Provision is doing a raffle for the festival!
Enter and you can win an entire package to make your festival-going even more fun. You can buy raffle tickets before March 3rd at any Whole Earth, or buy them the day of the festival, on...


 

Post new comment

The content of this field is kept private and will not be shown publicly.