Articles Published in: January 2011

January 3, 2011

FHA Loans for Condominiums

By Joe Wallace

FHA home loans aren't just for traditional suburban homes; there are a wide range of choices for buyers interested in something outside a typical neighborhood. One of those options is an FHA condominium loan. The FHA guarantees home loans for proposed and under construction condo projects as well as existing condo units. The FHA can also approve mortgages for conversion projects where a property is renovated and converted into a condominium. FHA loan applicants seeking a condo loan have a few restrictions those searching for more traditional homes don't have to worry about.