Posted to: Mortgage & Finance

FHA Changes to the Condo Guidelines

This just in from mortgage guru, Chet Gohd, RPM Mortgage in Berkeley.

“Today, February 1st, is the beginning of the new FHA Condo project guideline changes. From this point, any FHA loan for a condo will require an approval from HUD. This means that in order to do the loan, the financials from the Condo Project will need to be submitted and approved by HUD. HUD has recently said it’s taking about 8 weeks for project approvals under HRAP, but anticipates that within a couple months it may be upward of 4-6 months since there are something like 40k or more condo projects in CA alone that have yet to be submitted for approval.”

Any questions, let me know and I will put you in touch with Chet to answer your questions.



No comments for “FHA Changes to the Condo Guidelines”

Post a comment

Welcome to East Bay Living Real Estate

Hi friends! We are Krista + Rosie, the brains behind the East Bay Living website. Powered by Berkeley Hills Realty we are a top producing real estate team working {and having fun} in Berkeley, Oakland and the surrounding areas. From buying + selling to DIY + home decor to plumber + gardener recommendations we are your one-stop-shop for all things real estate.

Recent Posts

New Listing: 1086 Spruce, Berkeley Hills
June 4, 2017
By Krista Miller
Albany and Berkeley Make the “Best of” Charts
May 9, 2017
By Krista Miller
How Following Zillow’s “Best Time to List” Tool Could Hurt You
April 25, 2017
By Krista Miller
3405 Wisconsin, 3 beds + 2 baths in the HOT Laurel District
April 6, 2017
By Krista Miller
A Historical Tour of San Pablo Park, Berkeley
March 25, 2017
By Krista Miller