Tag: FHA

Is that condo really FHA-approved?

Is that condo really FHA-approved?

The Federal Housing Administration (FHA) insured only 1 in every 50 new mortgage loans in Chicago in 2006. In 2009 the FHA insured one in every 5 [...]
Does your condo building qualify for FHA financing?

Does your condo building qualify for FHA financing?

A condominium's eligibility for FHA financing can have an impact on its market value, due to the low down payment requirement and lower underwriti [...]
Fannie Mae and FHA ban loans in Englewood, West Englewood

Fannie Mae and FHA ban loans in Englewood, West Englewood

In a surprise move, Fannie Mae and the Federal Housing Administration, the largest sources of mortgage liquidity in the US housing market, announc [...]
Why condo prices can fall harder than house prices

Why condo prices can fall harder than house prices

Earlier this week, I wrote about three neighborhoods -- Rogers Park, Humboldt Park, and Irving Park -- whose condominium markets have been pummele [...]
Grand Bend cuts prices in bid to sell out now

Grand Bend cuts prices in bid to sell out now

"Our compelling prices represent a dramatic opportunity to buy high-end, very large, brand new condominiums at near auction-level pricing," said A [...]

Is that home FHA-approved? Check again

You might want to double-check the status of that FHA-approved condo you have your eye on. According to an article published in the Daily Herald earli [...]

Higher credit scores needed for FHA-backed loans

Wells Fargo and Bank of America have tightened their standards for FHA-backed loans, says Bloomberg. Both banks now require applicants to have FICO sc [...]
FHA now backs a quarter of all new loans

FHA now backs a quarter of all new loans

Jeff Baird is a real estate valuation consultant based in Chicago. He founded Lakeshore Analytics to bring comprehensive, understandable housing data [...]
200 North Dearborn gets FHA approval

200 North Dearborn gets FHA approval

I suppose I assumed 200 North Dearborn had received approval for FHA-backed mortgages sometime in the past year or two. Guess not -- according to HUD, [...]

Quote: FHA isn't the new subprime

“All we think about is credit risk, but comparing it to subprime just doesn’t make any sense. Let’s be rational." - FHA Commissioner David Stevens, d [...]
Financing frustrations continue in 2010

Financing frustrations continue in 2010

For much of 2009, Chicago Association of Realtors President David Hanna publicly criticized federal lending guidelines that hampered buyers' efforts [...]
FHA-approved developments in Lake View

FHA-approved developments in Lake View

There aren't a lot of developments in Lake View that have completed the entire HUD review or Direct Endorsement Lender review process necessary to obt [...]

The new rules: FHA revises loan policies

Temporary changes 50 percent owner-occupancy minimum excludes vacant and tenant-occupied units. Condo pre-sale threshold reduced to 30% from 50%. [...]

FHA fast facts: South Loop approvals

One of the questions Realtors hear most frequently is, "Is this property FHA approved?" Yesterday I punched three ZIP codes into HUD's FHA search and [...]

FHA delays new condo rules, may avoid bottlenecks

Changes in the FHA approval process for condos that were supposed to go into effect this week have been delayed until December 7 (a day which will liv [...]
Conventional financing options at Optima Old Orchard Woods in Skokie

Conventional financing options at Optima Old Orchard Woods in Skokie

Optima's Old Orchard Woods development in Skokie is unusual among today's condo projects in that it's approved for VA, FHA, and Fannie Mae financing [...]
Preparing for changes in the FHA process

Preparing for changes in the FHA process

On Nov. 1, several changes to the FHA approval process will go into effect, including the elimination of spot approval for condos, the addition of t [...]
The shift to FHA-backed financing

The shift to FHA-backed financing

"Three years ago nobody would touch it. Now everybody is clamoring to get it." That's how Joe Zekas opens this segment on FHA-backed loans with Amer [...]
Library Tower gets FHA approval

Library Tower gets FHA approval

Lennar announced yesterday that the South Loop high-rise Library Tower has received FHA approval. Located on the corner of State Street and Congress [...]
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