Comments on: In search of FHA approved condos in Andersonville and Rogers Park http://www.chicagometroarearealestate.com/in-search-of-fha-approved-condos-in-andersonville-and-rogers-park/ by Downtown Chicago Realtor, Fran Bailey & Lakeview - Lincoln Park Realtor, Mary Kaye Buettgen Sun, 05 Feb 2012 12:49:47 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Doug Francis http://www.chicagometroarearealestate.com/in-search-of-fha-approved-condos-in-andersonville-and-rogers-park/comment-page-1/#comment-173459 Doug Francis Thu, 25 Jun 2009 13:36:40 +0000 http://www.chicagometroarearealestate.com/?p=1332#comment-173459 When the market was hot, most of us forgot that there was an "FHA list" since the buildings were selling-out so quickly. And there were many lender's doing FHA-style loans without the FHA strings. Now we are back at looking at the % or ratio of rental units to owner occupied, and the financial health of the condo association. All listing agents need to make the call to the condo people to check on FHA approval and investor/owner occupied ratios to make sure that, after finally getting an offer, that it will go through! When the market was hot, most of us forgot that there was an “FHA list” since the buildings were selling-out so quickly. And there were many lender’s doing FHA-style loans without the FHA strings.

Now we are back at looking at the % or ratio of rental units to owner occupied, and the financial health of the condo association. All listing agents need to make the call to the condo people to check on FHA approval and investor/owner occupied ratios to make sure that, after finally getting an offer, that it will go through!

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