Under the revised guidelines – which take effect Oct. 15, 2019 – an individual condo unit in a building of 10 units or more may be eligible for spot approval if no more than 10% of the units are FHA-insured. For units in buildings with fewer than 10 units, no more than two units can have FHA insurance.
For more information on different types of mortgages check out our video below.
As always, we are here to answer your questions. If you need any more info on FHA loans or would like to discuss more please reach out! I would be happy to get you in contact with one of the many great loan officers in the area.
– Dave Kennedy