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FHA Loans
Neil Caron
Jul 30, 20152 min read
How Does FHA Handle "Cloud" Condominiums?
Because these projects do not have an HOA to enforce the CC&Rs, FHA has decided not to approve these condominium projects
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Neil Caron
Feb 20, 20152 min read
Importance of 10% Reserve Contribution to Condo Unit Financing
In speaking with several associations recently, I was surprised to hear that they knew about this FHA requirement but didn’t know anything about Fannie Mae. “We aren’t seeking FHA approval” was the response from one condo board member. Maybe not, but you are ruling out the VAST majority of buyers by not making this contribution.
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Neil Caron
Feb 6, 20152 min read
Fannie Mae Reintroduces 97% Financing for Condominium Units
Last week Fannie Mae announced the reintroduction of 97% financing for single-family homes, PUD units and condominium units. This...
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Neil Caron
Jan 13, 20153 min read
FHA Announces Reduction in Monthly Mortgage Insurance
On Friday, December 9, 2015, HUD released Mortgagee Letter 15-01 which announced a 0.50% (50 bps) reduction of the FHA monthly mortgage...
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Neil Caron
Sep 10, 20143 min read
3 Myths About FHA Loans Condominium Associations Must Know
The FHA loan program is a balancing act to remain competitive in the market, mitigate risk to its insurance fund and fill the niche role...
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Neil Caron
Aug 27, 20142 min read
FHA Eliminates So-Called "Pre-payment Penalties" for Loan Payoffs
FHA Eliminates So-Called "Pre-payment Penalties" for Loan Payoffs Yesterday, August 26, 2014, HUD modified its procedure for interest...
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Neil Caron
Aug 13, 20142 min read
My Condo’s FHA Approval Expired – Can We Still Close?
As FHA/VA Condominium Project Consultants, we do not typically get involved with the “loan level” side of things. Our primary objective...
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Neil Caron
Aug 13, 20142 min read
What are the Pros/Cons of FHA Loans?
The Federal Housing Administration, or FHA, is a mortgage loan insurance provider. FHA is housed with The Department of Housing and...
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Neil Caron
Feb 25, 20141 min read
What is the difference between a condominium and a townhouse?
Our FHA condo approval specialist Eric Boucher answers this question in one sentence! for the whole story click here
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Neil Caron
Jan 15, 20141 min read
14 changes ahead for home mortgages - MSN Real Estate
Some of these changes will happen sooner rather than later. 14 changes ahead for home mortgages - MSN Real Estate .
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Neil Caron
Oct 15, 20131 min read
Eric Boucher will be speaking at the CAI-CT Legislative Symposium this week.
To find out more about FHA condo approvals and how the process works contact Eric at eric.boucher@readysetloan.com or (404)433-4565
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Neil Caron
Oct 10, 20131 min read
FHA Condo Approval Specialist: FHA Condo Approvals – Financial Requirements
Great blog about the financial/budgetary requirements for a condo complex to get FHA approved. FHA Condo Approval Specialist: FHA...
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Neil Caron
Sep 23, 20131 min read
What is an FHA “Spot Loan” and Why Can’t I Get One?
Great read on how HUD has changed its guidelines when it comes to condo approvals, and why they did it. What is an FHA Spot loan and...
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Neil Caron
Sep 17, 20131 min read
FHA Condo Approval Specialist: What Types of Condominiums Does FHA Accept?
Great article by Eric on what type of condos Fha accepts. FHA Condo Approval Specialist: What Types of Condominiums Does FHA Accept? .
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Neil Caron
Sep 3, 20131 min read
There's No Reason to Panic About Rising Mortgage Rates - DailyFinance
Nice article explaining how the real estate market will thrive even as interest rates rise. There's No Reason to Panic About Rising...
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Neil Caron
Aug 26, 20131 min read
FHA 203k Loans: What Are They? What Are the Benefits? - Zillow
Nice read on what the 203k loan process is. FHA 203k Loans: What Are They? What Are the Benefits? - Zillow .
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Neil Caron
Aug 9, 20131 min read
Pre-Closing Credit Checks - NYTimes.com
I have seen this happen too often Pre-Closing Credit Checks - NYTimes.com .
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Neil Caron
Aug 7, 20131 min read
Build Credit Without Using a Credit Card
I can't count how many clients we've had where a person is just a little lower then the fico score needed to either get approved, or get...
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Neil Caron
Aug 7, 20131 min read
A Look Behind The Curtain: How To Choose A Mortgage Lender - Forbes
A Look Behind The Curtain: How To Choose A Mortgage Lender - Forbes . Great article on how to choose your lender, here are a few things...
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