Not All Condos Will Accept Your FHA Financing...

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Real Estate Agent with REMAX of Joliet

It surprises a lot of buyers when they hear that a condominium will not accept FHA financing and will only accept Conventional or cash.

Before you think about purchasing a condo in Illinois, go to https://entp.hud.gov/idapp/html/condlook.cfm and type the city you are interested in purchasing a condo.

In Joliet, only 12 are on the condo list and unfortunately, SEVEN of those 12 have expired status! That means there are only 5 condominiums in Joliet that will accept an FHA buyer.

In Plainfield, 10 condominiums are on the list BUT SIX have recently expired leaving only 4 on the approved list.

Before you look at condos, pull up this list and confirm the area you are looking in, will accept your FHA financing!

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LaNita Cates of REMAX Realty of Joliet has been serving the Joliet, Plainfield, Naperville, Crest Hill, Bolingbrook, Shorewood and surrounding areas, helping buyers and sellers with all their real estate needs.

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Rainer
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Greg Gillespie
Crye-Leike Realtors - Tupelo, MS
CRS TN & MS - Broker

What is the main dis qualifer for not being able to be F HA qualified, is it because of the owner occupant vs no owner occupant ratios?

Feb 21, 2012 12:54 PM #1
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Rainmaker
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LaNita Cates

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