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More and more Condominiums are off the FHA Approved Condo List
More and more condominium projects are not renewing their FHA approved condo list certification and this is making tougher for condominium buyers who only qualify for a FHA loan to purchase a condominium. If the condominium is not FHA approved, then a condominium buyer can only buy it with a conventional mortgage loan. The condominium needs to be a warrantable condominium as well. By warrantable, 51% or more of the condo unit owners needs to be owner occupants.

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