HUD

August 21, 2019
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HUD to announce long-awaited FHA Condo Rules

The U.S. Department of Housing and Urban Development is expected to release updated guidance on FHA-insured condominium financing. The new rules should benefit real estate purchasers by allowing more buyers to obtain low down-payment mortgages on affordable housing options. Specifically, the new rules will: Extend FHA certifications on condo developments from two years to three years, reducing the compliance burden on condo boards. Allow for single-unit mortgage approvals—often known as […]