FHA and condo purchases in Macomb County MI - how to find out if the complex is approved

Our local real estate market has some of the best buys that I've seen in over 10 years, and condominiums are no exception. In fact, I think condo prices are the best bargain out there in Macomb County right now.

The prices have come down so low that even the most elegant of condos is now reaching into FHA financing loan limits range. Many people are starting to realize this and have inquired recently as to whether a condo in our area can be purchased with an FHA (or VA) mortgage. The answer is a resounding yes. Keep in mind though that not every condo complex is HUD approved and a bit of background work should be done by your agent or mortgage lender prior to making an offer on one of these great buys.


When I have a buyer client that wants to purchase a condo and is using an FHA or VA mortgage I do my homework ahead of time prior to viewing them. One of the resources that is available to all of us is the HUD website that has a list of approved condo complexes.

You can search using a city or a zip code and the approved list will be shown.

Here is the link to HUDs search site for approved condos. If the complex is on the approved list you can then proceed with some reassurance that your FHA (or VA) mortgage will proceed without any glitches for this part of the process. If it is not on the list you can still talk with your mortgage lender and buyers agent about a "spot approval". ( Please feel free to call me or your mortgage lender to ask about spot approvals and what they entail.)

Talk to your buyers agent about this before you start viewing condos. Having as much information as you can ahead of time will help to make sure your purchase proceeds smoothly and with as little stress as possible for you.


~Kris Wales~ A partner for your real estate needs in Macomb County MI

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