FHA is the way to go these days, but when you are dealing with a buyer who is looking to go FHA with a condo project please make sure to check to make sure the condo project is an approved project on the FHA and Fannie Mae list. I have provided the links below for you fellow agents to bookmark.
There would be nothing worse than to get a buyer excited about their contract on a condo and get well underway with the processes of ownership to only find out that the lender can't get the loan processed, because the condo is not on the approved list for FHA. We, as agents, need to also be diligent about researching all the avenues and new guidelines for loan programs such as FHA, so that we do not only depend on the mortgage bankers or lenders to provide us with the information that is critical to us getting our jobs done efficiently!
Here is the website to see if a condo is FHA approved:
Here is the website to see if a condo is Fannie Mae approved: