FHA Loans and PUD Rules

[chrisp]

Hi,

I wanted to know if someone could tell me a little bit more about the FHA rules as they related to condos and PUDs. I am familiar with the FHA website where you can check to see if condo complexes are approved, and have heard of the spot approval process.

I guess my main questions relate to PUDs. We have just barely enough cash for a 10% downpayment in the $600-700K range. Also, we had been looking at some distressed properties that had out of pocket costs such as settlements to the 2nd, past due HOAs, closing costs, etc . . . As such, we need an FHA loan for those properties.

We just had to pull an offer because even though the property was a PUD, it had an HOA association and was attached. It was a townhouse complex, but treated as a condo complex . . . ? Also, what is the application of the FHA rules to twinhomes.

I have been googling for a couple days trying to understand the rules, but was wondering if any of you had info because of your experience.

THANKS!

[creechrr]

I can’t be of any help here, sorry. However, I am curious where you are looking at $600-700K townhousese?

[creechrr]

I can’t be of any help here, sorry. However, I am curious where you are looking at $600-700K townhousese?

[creechrr]

I can’t be of any help here, sorry. However, I am curious where you are looking at $600-700K townhousese?

[creechrr]

I can’t be of any help here, sorry. However, I am curious where you are looking at $600-700K townhousese?

[creechrr]

I can’t be of any help here, sorry. However, I am curious where you are looking at $600-700K townhousese?

[chrisp]

UTC, Carmel Valley, PB, La Jolla, North County Coastal. We like properties built within the last 20 years or so too.

[chrisp]

UTC, Carmel Valley, PB, La Jolla, North County Coastal. We like properties built within the last 20 years or so too.

[chrisp]

UTC, Carmel Valley, PB, La Jolla, North County Coastal. We like properties built within the last 20 years or so too.

[chrisp]

UTC, Carmel Valley, PB, La Jolla, North County Coastal. We like properties built within the last 20 years or so too.

[chrisp]

UTC, Carmel Valley, PB, La Jolla, North County Coastal. We like properties built within the last 20 years or so too.

[WayneBruce]

I also have a question. What is the current limit in California for Conformal Mortgages? Has it gone back down to $417k, or is it still higher?

[WayneBruce]

I also have a question. What is the current limit in California for Conformal Mortgages? Has it gone back down to $417k, or is it still higher?

[WayneBruce]

I also have a question. What is the current limit in California for Conformal Mortgages? Has it gone back down to $417k, or is it still higher?

[WayneBruce]

I also have a question. What is the current limit in California for Conformal Mortgages? Has it gone back down to $417k, or is it still higher?

[Author]

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