FHA came out with some great updates to their policies regarding Condominium Associations earlier this year. We finally see the results of those changes-- in many more Condo Associations making the cut for FHA approval. For the pros & cons about purchasing a condo, as well as a step-by-step guide, check out my recent article on purchasing a Condo in Maryland.
Here are a few of the approvals by County:
There are currently no FHA Approved Condos in Charles County but there are quite a few in St. Mary's, Montgomery and Howard Counties. To conduct your own search or to view by city, you can go directly to the HUD Condominiums List online. Be sure to pay close attention to the status- Approved means you can purchase a condo with an FHA loan (sometimes including down payment assistance!). Anything else means it is not currently eligible for that benefit, meaning you must pay cash or use a conventional loan to purchase.
Dunkirk MD Homes for Sale - Genna Fleming, REALTOR® at EXIT 1 STOP REALTY
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