Last week, The Pursuit featured Lauren Masterson, a home buyer who ran into several financing obstacles, one being that her building’s Federal Housing Administration (FHA) approval had expired.
While it is possible to get a building approved/re-approved, home buyers planning on using FHA financing to buy a condo should check out this HUD website, as it lists all the condo developments in DC, Maryland and Virginia that are FHA-approved.
In light of Lauren’s story, we wanted to remind readers about the site. UrbanTurf has heard from a number of readers who have gotten their hopes up to buy a place, only to find out that the building where the unit is located is not FHA-approved.
Approximately 10 percent of residential buildings in DC are FHA-approved, and by entering information into the fields for the database, a buyer can find out if the building where they would like to buy is included in that list. Even if you are not an FHA buyer, it can be beneficial to check if the building where you are buying is approved for resale purposes.
This article originally published at https://dc.urbanturf.com/articles/blog/hud_website_of_fha-approved_condos_repost/5018.
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