How To Sell More Condos
The obvious answer from someone in the business would be to get your FHA approval. FHA released their new mortgagee letter stating that is what they are doing. We will see once lender communicate how they are going to handle this.
” A nationwide glut of new condominiums has prompted developers to use new marketing ploys to sell their units. One increasingly popular move: get a government stamp of approval for the entire building. The approval, from the Federal Housing Administration, means potential buyers can more easily qualify for a low-down-payment mortgage backed by the FHA — a highly coveted amenity in this era of tight credit.”