FHA Condominium Certifications: The Requirements and Prohibitions

The Federal Housing Administration (“FHA”) is a government-owned insurance company that insures home loans for buyers who cannot afford a conventional down payment or prefer to use their available funds in other ways. In other words, a FHA backed loan allows a home buyer to purchase the home with a smaller down payment than other types of loans and, oftentimes, at a lower interest rate. FHA backed loans permit buyers to put down as little as 3.5% as opposed to the typically required 20%. Lower down payments tend to attract many first-time home buyers.   Read More……


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