Buying a condo in Chesterfield Township with FHA or VA mortgage.

One of the questions that I am asked quite often is if a condo can be purchased with an
FHA or VA mortgage.

The answer is a resounding YES. In fact, I find the whole process with FHA and VA purchases
to be a bit easier with condos than with single family homes. Typically condos have much
less of the larger items in disrepair to meet the appraisal guidelines: Roofs are normally
in good condition, foundation & grading issues rarely arise, etc.

HUD has a list of condominium complexes online that you can quickly review to see if the
condo that you have chosen is in a community that is already approved. When I have
a buyer client that wishes to purchase a condo with an FHA mortgage I use that site for a
quick reference. If the complex is not on the approved list, I then check back through the
multilist service that I belong to and search to see if any condos have sold within the last
year using an FHA or VA mortgage.

If the condo you wish to purchase is not on the approved list, hope is not lost. A spot approval
can be done by your mortage lender. For most cases this type of approval is very quick to
obtain.

I searched the multilist this morning and as of the time of this writing, there are 36 condos
for sale in Chesterfield Township MI priced between $100,000 and $120,000. There is
quite a nice mix of those for sale in both the L'anse Creuse school district and the Anchor
Bay school districts.

If you have any questions about purchasing a condo in Macomb County please don't hesitate
to call me. I would be happy to chat with you and be a partner with you through the process.
I can also help you to find an FHA or VA mortgage lender who is familiar with the condo purchase
process.

Kris Wales RE/MAX Advantage 1, Inc. Chesterfield Township - Macomb County MI

http://macombhomes.com http://chataboutmacomb.com

Condos for sale information courtesy of Mirealsource™ and it's participating brokers and real
estate agents.