IF YOU’RE THINKING OF BUYING A HOME, LOOK INTO AN FHA LOAN

Posted on

Gloria-Bumanglag-IF-YOU'RE-THINKING-OF-BUYING-A-HOME,-LOOK-INTO-AN-FHA-LOAN
If you’re thinking of buying a home and conventional lending isn’t panning out, look into an FHA loan. The Federal Housing Administration is a government-backed agency who offers assistance to homebuyers whom’s finances do not meet the requirements of a conventional lender. If you’re looking to purchase a condo using an FHA loan, expect to face strict regulations. The condominium communities must be financially stable, have a low percentage of delinquent due payments and now thanks to the new guidelines from the agency only 35% of a community must be occupied by owners versus 50%. To be eligible for the lower owner occupancy rules, the condo development must be more than 12 months old and applications must be submitted for processing and review under the HUD review and approval process. The FHA will also require you to purchase mortgage insurance, which is another unwanted payment but it’s a small price to pay to be able to get into a property with very little money down.

Below, I’ve provided a list of FHA approved condominium in three south OC communities in the OC area.

If you’re interested in exploring this option, please don’t hesitate to contact me. I understand all the nuances of FHA loans and am happy to assist you.

Laguna Niguel approved FHA as of 10/26/2016
Beacon Hills
Breakers at Bear Brand
Bridgeport Terrace
Camaeray Pointe***
Capri Condominiums
Crystal Cay
Del Prado
East Nine Expressions at Rancho Niguel
Foothill Town Homes
Marina Hills Planned Com
Silverstone Homeowners
Village Niguel Gardens
Village Niguel Terrace
Village Niguel Terrace II

Laguna Hills Approved FHA
as of 10/26/2016
Acacia Knolls
Bella Tierra
Bella Vista
Briosa
Casa de Laguna
Quail Creek- Pa Paz
Rancho Monterey

Aliso Viejo Approved FHA as of 10/26/2016
Altisse
Applause
California Renaissance
Cantora
Fieldcrest
Flores Los Alisos
Glenwood Village
Harbor Station
Heather Ridge
La Mirage
Laguna Audubon Vistas
Laurelmont
Morningside
Morningside Terrace Condos
Passeggio 
Provence d Aliso
Seacliff Court
Seacove Place
Seagate Colony
St. Tropez