Monday, August 19, 2019

FHA to make financing easier for condo owners

FHA to make financing easier for condo owners: The Federal Housing Administration has finally issued a long-awaited update to its condominium rules, announcing Wednesday that it will now allow individual unit approval and is taking other steps to loosen requirements that make these properties eligible for FHA financing. The agency said it expects the updated guidelines to qualify up to 60,000 more condo units a year for financing.