Kim Blanton

Does Your Hendersonville, TN Condominium Qualify for FHA Financing?

Does Your Hendersonville, TN Condominium that you are planning on selling qualify for an FHA loan by the buyer?

Here are the requirements for a buyer to get FHA financing:

Condo project mut operate with an adequate budget and provide an financial statement
51% of the units must be owner occupied
No more than 10% owned by one investor
Project limited to 30% FHA loans
A 50% of presale requirement of total units
Condo projects must be covered by adequate hazard and liability insurance, and when applicable, flood insurance

Before you sell or buy a condominium, make sure that you have all the answers to these required items above. Don’t get caught at the last
minute not being able to close. Ask your Realtor and/or your mortgage lender to check on this for you before you complete an offer to purchase.

Remember, does your Hendersonville, TN condominium qualify for FHA financing?

Get more information on Hendersonville TN Real Estate