Video provided by the National Association of REALTORS Jul 29, 2016
New Law 2017: FHA’s minimum owner-occupancy ratio for condo associations is reduced from the current 50 percent to 35 percent. FHA is ordered to streamline the entire recertification process for condo associations and make compliance “substantially less burdensome.”
Curious to see how this will change the market. Many of you know this but it's almost impossible to find a condo that allows FHA financing here in the Bay Area, has to be either Conventional or Cash. This should provide families with more homeownership opportunities.
If you're curious what condominiums are available right now, private message me and I will email you the latest list.