Presently it is easier to do am FHA Loan on a Condo than on a Fannie Mae or Freddie Mac (Conventional Loan), because of downpayment requirements and Condo Project Reviews. Early last year Fannie Mae and Freddie Mac announced that they would no longer be keeping a list of approved condo's, and that it would be up to each individual Lender to develope their own list. This means that each Lender has to not only do a Full Condo Review the first time they do a loan on a Condo Complex, but they aslo have to have all of the … (9 comments)
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