If your considering buying a condos for sale in the San Fernando Valley, you'll be surprised just how few communities are FHA approved. Searching online won't give you the knowledge you need to avoid those condos which won't qualify for an FHA loan. 
It's a tedious task most real estate agent hate. Having to check the FHA website for approval. Now, you can purchase a condo or townhouse for only 5% down. That's any condo or townhouse because you will have applied for a conventional loan and everybody loves a conventional loan.
Here is a loan officer I can recommend for Los Angeles home-buyers:
Please call Tom Cortesi with Home Services Lending at 818-817-4261 office or 323-791-8145 mobile.
Here is Tom's website: http://www.homeloans.com/tom-cortesi . Tom is great at what he does.
The most desirable area for condos is Woodland Hills, Encino & Sherman Oaks in the San Fernando Valley. Studio City is desirable for both condo and townhouse. Keep in mind HOA monthly fees can vary from community to community. Whatever your budget is, you need to have some flexibility in order to find the right place.
If you are qualified up to $400,000 and the starting price of condos in that area is $400,000, you will have a very difficult time finding a place to live. But, if you are looking in an area where condos generally sell for $325,000, you will have some flexibility to negotiate and possibly overbid depending on the market demands.
To get you started in your quest to find the right condo or townhouse, visit this property search link: http://www.homes.la/search-for-homes/ . You can search from the map... zooming into areas you know and want to live in. It's the best!
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