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More and more Condominiums are off the FHA Approved Condo List
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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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