Virginia Beach Condo's For Sale - Get FHA Approved
Are you trying to sell your Virginia Beach Condo or are you looking to buy a Virginia Beach Condo? Either way this is a must read article. Virginia Beach Condo owners and buyers should always be aware if there particular Virginia Beach Condo community is FHA approved and if not, then how to get approved.
Importance of FHA Approval
Did you know an FHA approval for condominium projects is now required? Beginning in 2010, if your condominium development is not approved by FHA your current homeowners and future home buyers are not able to utilize the most readily available mortgage program FHA.
The importance of an FHA project approval could be the difference in you selling your Virginia Beach Condo or being able to purchase one.
A Virginia Beach Condo approval has many benefits for home sellers:
- Larger buying pool - the larger buying pool includes first time home buyers and lower income buyers
- Convenient - Much needed value added to buyers & sellers
- Accommodating - Higher homeowner satisfaction with HOA board and/or management company
- Resale marketing perks - Fully assumable "built in" financing for qualified future buyers
Government sponsored mortgage finacing could provide owners and buyer:
- Flexible credit and income standards
- Variety of fixed or adjustable rate loans
- Low down-payments
- Access to down-pament assistance programs
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