fha loans

In a dramatic temporary reversal of policy, the Federal Housing Administration is giving condo buyers a much-needed break.

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.