condominium homes: Want to buy a condo? Beware of the Costs - 01/22/13 11:24 PM
Considering a condo in Northern Virginia for your next home?  Consider the costs & risks before making an offer.   There are obvious concerns (noise, pests & parking issues) and a few not so obvious.
  1. Is the condo complex FHA (Federal Housing Administration) approved?  If you are planning to obtain FHA financing then the development needs to be approved by FHA.  You can check to see if a property is approved by visiting:  https://entp.hud.gov/idapp/html/condlook.cfm  FHA no longer allows "spot approval" and many condo associations allowed their FHA approval to drop.  With FHA providing the lowest down payments available (except … (1 comments)