In order to buy a condo with FHA financing it must be on their approved list. Below is a list of approved condos for Broward County Florida. It’s not a lot but if you are looking in these condo projects it makes it very easy.
Many are struggling to get financing on condos in Fort Lauderdale and South Florida. One of the main issues is due to the condo project not having enough reserves.
Many think that you need to put 20% or more down and a lot of banks will require 25% down on a primary residence and 30% on a second home so that the financing falls into the “Limited Review” condo requirements that Fannie Mae & Freddie Mac require. You can buy a condo with as little as 3% down if it’s a primary residence.