FHA Condo Information
You can get a FHA home loan if you are buying or refinancing a condominium. The qualifying process for a FHA condo mortgage is very similar to that of a single family home.
The 1st thing you must do to see if you can get a FHA mortgage on a Condo is check to see if the condo project or building itself is approved by the Federal Housing Administration. The FHA may not approve a mortgage loan for a condo if there are more non-owner occupied units than there are owner occupied units with in the building. Your FHA lender will not approve your mortgage loan unless the condo project is approved by the FHA. To see if the condominium is approved, your lender will want to do a S.P.O.T. approval but you can check to see if it is approved by using the "Condo Lookup" feature on the HUD website; just click the link below:
