The Federal Housing Administration (FHA) provides mortgage insurance to condominium communities that meet the agency’s strict FHA Condo Approval Guidelines. FHA mortgage insurance is available only to FHA-approved condominiums and provides significant benefits not available to other communities.
Once approved, FHA communities benefit from low-interest FHA Loans, increased home values, access to more potential homebuyers, reverse mortgages, better marketability and generally fewer renters in the community.
At no additional cost, ACM can obtain FHA approval for our condominium clients who qualify. Our in-house FHA specialist works in conjunction with a third party to submit all of the necessary paperwork, including applications, financial reporting, insurance information, leasing data and more.
Roughly one-third of ACM’s condominium associations are FHA approved, which is a greater percentage than the overall national average of FHA-approved condos. Thanks to our competitive FHA approval program, ACM condominium clients see significant long-term financial savings that benefit everyone in the community!
If you are an ACM condominium client, please contact Chrystie Reif, Director of Training & Website Services, at firstname.lastname@example.org or (410) 771-0600 ext. 301 to find out about your eligibility or to apply for FHA approval. To learn more about FHA approval, please visit the FHA Review website here: http://fhareview.com/pros-cons-and-misconceptions-of-fha-condo-approval/