FHA Approved Hackensack NJ Condos - The Westbury
Original posted at Jersey Condo Scene:
FHA Approved Condos In Hackensack NJ - The Westbury
If you're looking for Hackensack condos that are FHA approved, The Westbury should be on your short list.
The Westbury at 131 Clinton Place is nestled in the sought-after & serene Fairmount section of Hackensack, NJ. It's a 4-story, newer, gated mid-rise built in the early 2000's & is home to 70-units of 1 & 2 bedroom floor plans.
Amenities at The Westbury include a washer & dryer in each unit, 24-hour gated security, central air conditioning & heat (NOT wall units), indoor & outdoor parking, and a short walk to the train for the New York City commuters.The Westbury is also a pet-friendly complex.
Why is FHA approved mortgage financing great news for the Hackensack condo market?
Well, it’s a two-fold answer. FHA insured mortgage financing is a sought-after mortgage product for many seeking to purchase a condo with a lower 3.5% down payment. Currently, HUD also allows sellers' concessions (to buyers) of up to 6% of the contract price! It’s also a plus for potential buyers whose credit scores may be a bit lower and not qualify them for conventional financing. So, this is great news for buyers.
It’s great news for buyers since it opens the field of possibilities for them, since there are very few FHA approved condo projects.
For sellers, this is a big deal as well. FHA approval creates a larger pool of potential buyers for properties that may otherwise experience less-than-optimal traffic due to tightened conventional mortgage finance guidelines. This larger pool of focused and now qualified buyers looking at their units means two things.
1- More demand is created by more interested buyers for the FHA approved condos.
2- More demand should mean better condo values for sellers in FHA approved buildings. It’s really just basic supply and demand economics. It gets more qualified buyers focusing on a smaller group of possibilities, those being the FHA approved condo buildings or complexes.
Call (201) 489-3020 for information on Hackensack condos for sale at The Westbury.
I’m Brian Morgenweck, broker/owner of Power Realty Group. I’m a trusted voice in real estate marketing in Bergen County & give expert advice on difficult or complex decisions in an educational & empowering way. How can I help you reach your real estate goals?
For more information on FHA approved condos in Hackensack and getting pre-qualified for FHA financing, connect with me at (201)489-3020 or email me at Brian@TheJerseyScene.com.
Click the link to view all Hackensack condos for sale.
FHA Approved Hackensack NJ Condos – The Westbury
