If you are looking for a condo in the Richmond VA real estate market and you need to use FHA financing, there are some great options out there. You will want to start with looking at the list of FHA approved condos in Richmond VA on HUD’s website. If the condo is approved, you are good to go. If the condo’s approval has expired, your lender can assist with the re-certification process.
If you fall in love with a condo that is not approved, do not despair–your lender can again step in and assist you with the process of obtaining FHA condo approval. You will need the blessing of the condo association or builder as they will need to provide HUD with the required documentation for review. Once the documents are submitted to HUD, the decision can take up to 60 days, so make sure you start the process early.
Here are the condos in Richmond VA that are currently approved for FHA financing:
Benedictine Commons
For Sale- 3533 Hanover Avenue, Unit A, Richmond, VA 23221
Cabell Condominiums
Church Hill Gables
Mount Vernon
For Sale- 507 North Hamilton Street, Richmond, VA 23221
Porter Street Flats
The Nolde Bakery Condominiums
For Sale- 306 N 26th Street, Unit 225, Richmond, VA 232232
The Reserve
The Warsaw
For Sale- 1401 Floyd Avenue, Unit 209, Richmond, VA 23220
For Sale- 1457 Floyd Avenue, Unit 306, Richmond, VA 23220
Remember, if it’s on HUD’s list as expired, contact me to look into getting the condo re-certified. Also, if the condo is not on the list, contact me and I am happy to do the research for you to see if HUD approval could be achieved. We at First Home Mortgage are happy to guide you through the process of financing your Richmond VA condo purchase.
Post originally published at Loan Officer Lately.
Comments (3)Subscribe to CommentsComment