"...Condominium projects consisting of 30 units or less, can have up to 20% of the units encumbered by FHA insured mortgages under the spot loan rule".
I own 1 side of a 2 unit condo that is for sale. We have an offer from a buyer that is FHA buyer. Will our place fail the FHA spot-approval because 50% of the units will be FHA? I understand why this was put in place for larger condo complexes, but this really hampers the ability to sell to FHA buyers for 2 unit condos.
2 Unit Condos
1 post • Page 1 of 1
2 Unit Condos
by jmr5050 » Sat Jul 25, 2009 1:30 pm
- jmr5050
- Novice
- Posts: 1
- Joined: Sat Jul 25, 2009 1:23 pm
1 post • Page 1 of 1
Return to General FHA Question
Who is online
Users browsing this forum: No registered users and 2 guests