Critics say FHA reforms don’t rescue condo buyers

If you’re a first-time buyer with a moderate income and not much cash for a down payment on a condo, the availability of Federal Housing Administration financing is a big deal. Not only do you need just a 3.5 percent down payment, but FHA is also far more flexible on credit compared with other financing sources. With a sub-par FICO score and a high debt-to-income ratio, banks and big investors like Fannie Mae don’t want to know you. FHA welcomes you with open arms.     Read the article………….


Related Articles

Jilted elevator company suing condo association over terminated maintenance contract (IL)

An arbitration hearing is scheduled for Friday between Marina Towers Condominium Association and ThyssenKrupp Elevator Corporation over a maintenance contract

Drug-plagued and condemned, Blossom Park condos may close

Blossom Park Condominiums, the former Days Inn Motel that has been linked to more than half of the county’s heroin

Questions surround landslides in gated community (TX)

Residents within University Park, a gated community in Irving near Northgate and O’Connor, were surprised to discover a large amount