Real estate blog entries tagged with condominium by Ki Gray

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Home : Blogs : Ki Gray - Austin Real Estate : Ki's Austin Real Estate Blog : Tag "condominium"

condominium: Interested in a Condominium? Get a FHA-Insured Loan - 07/18/10 01:44 AM

Mortgage Insurance for Condominium Units (Section 234(c)) program assists potential homeowners in purchasing a home in a condominium development. The prospective condominium must be the potential homeowner's primary residence.

The intent of this federal program managed under the U.S. Department of Housing and Urban Development (HUD) is to insure the loan of a borrower who buys a unit in a condominium property. HUD does not directly provide loans to borrowers. Instead, HUD insures loans through FHA-approved lenders. Some of those who take advantage of the program are low- to moderate-income renters who want to buy their unit in order to … (1 comments)

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