Wednesday, June 17, 2009

Look before you leap

You've been looking to buy a condo, and what a great time it is to do so. There's never been such a vast selection of attractively priced properties out there. Naturally, you've already had your mortgage pre-approved by a reputable primary lender, you call your agent, they start emailing you properties, and you're set to GO! Right? Not so fast. Chances are if you're a middle class average American you're going to take advantage of the "back by popular demand" FHA loan. Well....the truth of the matter is that not all condo complexes are 'FHA approved' and the last thing you want have happen is to fall in love with a place only to find out later that your lender will not finance it. How can you avoid this? You may ask. Here's the answer:

https://entp.hud.gov/idapp/html/condlook.cfm

And it will make it possible for you to look before you leap!

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