Single family condominiums many times are priced affordably and ideal for buyers that do not
qualify for higher priced single- family homes. While this option may sound appealing, condo financing rules and restrictions of most condo projects, have not allowed financing with anything less than twenty or twenty-five percent down payment on a mortgage loan, thus making homeownership unattainable to buyers with small families, located in urban areas, with a limited amount of finances to purchase.
Today, HUD's new rule on FHA (Federal Housing Administration) condo financing, has brought much optimism, to all that look forward to fulfilling their homeownership dream. For more information on the availability of Condominium Projects that meet this criteria, updates on rule and options for financing, contact:
Miriam Hernandez, Broker and Owner, ELC Real Estate LLC, elcrealty@gmail.com, mhernandez57@comcast.net www.elchomes.com