Real Estate Tips and Information by Karen List

Buying and Selling Homes in Santa Clara and Alameda County

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Entries from February 27th, 2010

Probably One of the Last FHA Spot Approvals Through Before the Deadline

February 27th, 2010 · No Comments · buying a home, condo homeowner, condo/townhome, FHA approved, FHA loan, first time buyer, homebuyer

I just sold a condo in San Jose to a very sweet young couple. They wanted this particular community because it was close to Lake Almaden and they really like the location. They are FHA buyers and this community is not FHA approved. The deadline for spot approvals was Feb 1 and we barely made the deadline […]

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Say Goodbye to Spot Approvals for FHA loans in Condo/Townhome Communities

February 9th, 2010 · No Comments · condo homeowner, condo/townhome, FHA approved, FHA loan, first time buyer, real estate

Why FHA decided to end spot approvals is a complete unknown to me and is definitely not good news for FHA buyers  and condo/townhome communities that are not FHA approved. As of February 1, 2010, FHA no longer allows spot approvals in said communities. A spot approval is one in which FHA looks at an individual unit,  the HOA documents, and […]

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