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MAJOR changes to FHA finacing Condo approvals-Tampa,Fl

I just received this and thought I’d share it with you regarding financing FHA approved condos in the Tampa Bay area. 

Major changes to Condo Approvals  

 As of October 1, 2009  ALL FHA condo approvals will be GONE.  We will be starting from scratch with NO approved projects untill Lenders start submitting approval packages to HUD.  It is imperative that realtors understand the need to move listed condos NOW and not to wait. We also need to advise the sellers that the FHA loans on the condos will come to a sreeching halt for a period of time. Buyers needed to move on the condo ASAP. Who knows when the project will get on the approval list.  If the project was approved after October 1 2008  the approval will be valid for FHA loans.

Please relay that to the buyer or loan officer so that they understand we might be in for some serious delays if they have to go and approve the building again….

If you are looking to buy a condo in Tampa Bay, and need to use FHA financing I have a list of approved buildings. Email me [email protected], or call me 813 784 7744 


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Written by Rae Catanese, Realtor

Licensed Realtor since 2002, Tampa Bay’s own Rae Catanese regularly gives expert advice and insider tips about the Tampa Bay real estate market via her blog, The Tampa Real Estate Insider. If you are thinking of buying or selling a home in the Tampa, St. Petersburg or Clearwater areas-then this blog is for you. I typically post articles once a week. To make sure you don’t miss my newest posts, you can subscribe here! Have a real estate question? Email me here!

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