FHA Approved Sparks Condos |
|
When considering purchasing a Condo or Townhouse with FHA financing, the projects or complexes must have already been approved by FHA or HUD. There are no exceptions to this rule. Condominium projects must meet several criteria to get approval. One key requirement is they must be at least 51% owner occupied. Another Key requirement is the condo development must be at least 90% sold and no one entity can own more than 10% of the total units.
FHA approval is not permanent and approved projects must get approval certificates every two years. Lenders are required to make sure these properties meet the owner occupancy requirements and all other requirements for each loan submitted to get an insurance endorsement. Currently many folks are looking to take advantage of low interest rates, first time home buyer mortgage opportunities and low selling prices that are available in the current real estate market. Condominiums and Townhouses generally cost less than a similarly located and sized single-family homes. Because the overall cost is lower, both the monthly mortgage payment and the property taxes will be lower. Home buyers looking to save money and purchase a condo in the Sparks, Nevada area can look right here for FHA approved condos. The list below is current as of 4/8/2011 and will need to be verified once you decide on a condo to purchase. Verifying what condos are FHA approved is easy and only takes a few minutes to do. Contact me, Terrie Leighton, or your lender to help. Here are the current FHA approved condos in Sparks, Nevada: Silver State Condominiums ~ Sparks, NV 89431 ~15th & Rock Blvd Pine Meadows ~ Sparks, NV 89431 ~ Prater & Lincoln Way Williamsburg Apartment Homes ~ Sparks, NV 89431 ~ Oakwood & McCarran Willaimsburg Townhomes ~ Sparks, 89431~ E. Lincon Way Springland Village ~ Sparks, 89434 ~ Baring Blvd & Sparks Blvd Casoleil at Spanish Springs~ Sparks, NV 89436 ~ Costa Azul Drive Mountain Meadows ~ Sparks, NV 89431 ~ Wedikind Way Wingfield Springs Condominiums ~ Sparks, Nv 89436 ~ Vista Blvd & Ingleston Search the MLS right here for current condo and townhome listings in the Sparks, Nevada areas. Sign up for listing alerts, customize your home search and use my mortgage calculators to determine how much or monthly mortgage payment might cost you. Contact me at 775-846-5424 or email me at Terrie@terrieleighton.com. |
Comments (2)Subscribe to CommentsComment