Where can I find a list of FHA Loan Approved Condos for Sale in Miami?
Here is the direct link to the FHA website: https://entp.hud.gov/idapp/html/condlook.cfm Your should be aware though that there are very few condos now approved. Older buildings which might have been approved before, may need to get re-approved if they haven’t been evaluated in the last few years. The best thing to do is to consult a lending professional who is approved for FHA loans. It is also possible to get what is called a ‘Spot Approval’ and again you will need to consult with an FHA approved lender (you will find them at http://www.HUD.gov). There are guidelines as to factors which lenders must check before lending in a particular condo. These include: number of units are non-owner occupied, whether there are reserves or not, how many unit owners are current and behind in maintenance payments, how many units are in foreclosure, etc. As complicated as it may seem, all of this is to protect you as the borrower, so that you are not stuck in a building which may end up in receiversh
