Why Get Hud Approval?

 

 

 

Initial Project Approval Dates     New Expiration Date

1972 – 1980                                 December 31, 2010

1981 – 1985                                 December 31, 2010

1986 – 1990                                 May 31, 2011

1991 – 1995                                 July 31, 2011

1996 – 2000                                 August 31, 2011

2001 – 2005                                 September 30, 2011

2006 – 2008 (Sept)                      March 31, 2011

 

 

 

Why is FHA Approval Important?

 

In May of 2010 the Home Buying Institute conducted a survey of over 12,000 home buyers. They found that going forward, over 80% (actually, 87%) of home loans will be done through FHA.

 

By being strategic now, there will be no panic later when selling or buying and FHA funding is needed to consummate the sale. Remember, no more spot approvals, which means now the HOA itself has to be approved for the unit to qualify for FHA loan funding.

 

See if your Condominium is FHA approved at: http://www.hud.gov/offices/hsg/sfh/faqs/atl1val.cfm