HUD Website of FHA-Approved Condos
CityVista
If you are going to use Federal Housing Administration (FHA) financing to buy a condo, then a good place to start looking for a place is this HUD website that lists the condo developments in DC, MD and Virginia that are FHA-approved. Hat-tip to UrbanTrekker for the heads up.
In short, an FHA loan is a mortgage loan insured by the Federal Housing Administration. They are popular among first-time homebuyers and those in lower income brackets because they have low down payments (3.5%), and usually much lower interest rates than traditional loans.
There are almost 200 condo developments within the DC borders that qualify for FHA-financing including The K at CityVista, Cityscape on Belmont, Kenyon Square, Jenkins Row and Madrigal Lofts.
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1 Comment
You can also go to http://www.checkfhaapproval.com and check a properties up to date approval status by address. It’s a little easier than HUD’s site and HUD dosen’t check saturation levels either :(