Where to Find an FHA-Approved Condo in California

Choosing an FHA loan to fund your condo purchase in California is a good idea, but you may encounter difficulty finding an FHA-approved condo. Here are some tips and tricks on finding your dream condo unit financed through an FHA loan.

What are FHA-Approved Condos?

FHA loans are government-backed mortgages insured by the Federal Housing Administration (FHA). FHA loans are meant for first-time homebuyers or those who haven’t owned a house in the last 3 years. FHA-approved condos are basically condos that have been approved by a HUD-approved lender or HUD to receive an FHA loan.

Before 2019, the whole condominium community had to undergo the approval process. The rules changed in 2019, and now individual units can be approved too.

If you have more questions about FHA loans and FHA-approved condos, call or message a Glendale mortgage broker like Nuline Funding for further inquiries.

How Can You Find an FHA-Approved Condo?

If you’ve decided to buy an FHA-approved condo, of course, you’d like to know whether the condominiums you’re interested in are eligible to be purchased with FHA loans. You can browse the list of FHA-approved condos on the HUD’s approval list website. Just enter the county and state where you are interested in buying a condo. 

The list can also help you find nearby FHA-approved homes, or if you’ve already found a condo you like, the website will tell you if the condo is FHA-approved. Also, the condominiums database isn’t only for approved condos but all condos that have been through the FHA approval process. The website may also show a list of condos that are in the process of becoming approved or those that have lost their FHA approval.

If you saw your dream condo on the HUD’s approval list and want to purchase it, you can apply for an FHA loan in California to fund your needs.

What are the Benefits of FHA-Approved Condos?

If you’re a first-time buyer, working with a real estate agent with experience with FHA loans and the approval process is advantageous. Let’s take a look at the benefits of getting an FHA-approved condo:

  • First-time buyers find FHA loans and condos attractive because they’re affordable.

  • Lower down payment minimums.

  • It’s easier to qualify for FHA loans because their requirements are more flexible compared to the strict credit and down payment requirements demanded by conventional loans.

  • FHA loans have low-interest rates and flexible terms.

If you found the benefits attractive and are currently applying for an FHA loan and looking for a Glendale condo for sale, get in touch with a mortgage expert for assistance.

Ready to buy an FHA-Approved Condo?

If you’re a first-time buyer, FHA loans open the door to buying a condo without as much upfront cash.

Making your first purchase can be pretty challenging, so contact  to help you weigh your options

* Specific loan program availability and requirements may vary. Please get in touch with the mortgage advisor for more information.