Clovis Condos | Clovis Real Estate | Clovis Homes | Clovis Realtors

Clovis Articles

Subscribe to Articles

Or Subscribe via RSS

Search This Site

Clovis Real Estate News

December 17th, 2009

Clovis Condos and FHA Loans

clovis condos, clovis ca condos, condos in clovis, clovis condos for sale

New FHA Guidelines for Clovis Condo Sales

Are you in the market to buy a Clovis Condo? There’s good news! New Federal Housing Administration (FHA) condo loan guidelines just took effect Dec. 8 and make it much easier to buy a Clovis condo.

Under previous guidelines, half the units in a new Clovis condo development had to be sold before the FHA would underwrite a mortgage in the complex. New guidelines cut the requirement to 30% and raise the ceiling on FHA loans in a development to 50% from 30%.

The new rules also allow Clovis condo associations to turn down an accepted offer if they agree that it’s too low — unless they will be violating the Fair Housing Act. This is expected to motivate many associations to seek FHA-approved status for their buildings.

Keep in mind that FHA loans can be a tough sell in some buildings. Unfortunately, FHA loans still have a stigma of being low-income. Some condo boards say, “No, we don’t do FHA.” They don’t understand that the FHA is the only game in town in this economic cycle since banks have all but cut lending to many home buyers.

Learn more about buying a Clovis Condo here.

FREE List of Condos in Clovis For Sale

Get your FREE list of all of the Condos in Clovis for sale just by filling out the form below. Or if you prefer, give us a call or send us an email or text message if you’re thinking about selling or buying a Clovis condo. We’re Clovis Real Estate Experts and as Clovis Realtors we specialize in Clovis homes, including Clovis Condos. Everyday we help clients get exceptional value for their money and find the best neighborhood and Clovis Condo for the lowest price possible.

Keep in mind that there are a variety of Clovis condos for sale, including Clovis condo foreclosures. When you find something you like, just let us know and we’ll take you to go see it. However, make sure you’re pre-approved before you go look at any Condos since sellers won’t even consider an offer unless you have a “pre-approval letter.” You can get pre-approved or ask any question about how to finance a Condo here.

Contact us if you have any questions about Clovis Condos, or just complete the form below and a list of Clovis Condos for sale automatically will be emailed to you.

Happy-house hunting!

Clovis Real Estate − "The Clovis Home Experts"

This entry was posted on Thursday, December 17th, 2009 at 10:51 AM and is filed under Buyer Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.