Comments on: FHA Approved Condos in SW Orlando

By: Hojin Chang

Hojin Chang — Fri, 18 Dec 2009 15:32:54 +0000

You’re right about the FHA approved list but that’s the only thing we can go on. It’s one tough task to find an FHA approved condo these days and if you find one you better hurry up cause it may not be approved for very long. Condo associations have a lot less control over their associations due to so many delinquencies and overall economic climate so I don’t see too many things they can do to affect the owner occupancy rate.

By: Hojin Chang

Hojin Chang — Fri, 18 Dec 2009 15:30:27 +0000

I wish there was a way as well with the big push for FHA financing by the government. Condo associations have much less control these days due so many delinquencies and overall economic climate. It’s one tough task to find an FHA approved condo these days. If you find one, you better hurry up cause as you say, it may not be approved for very long.

By: Dianna MacLaren

Dianna MacLaren — Fri, 18 Dec 2009 14:04:22 +0000

Hello Hojin- Unfortunately, many of these neighborhoods, even if they are on the FHA-approved list are no longer qualified for FHA loans per my lender, due to the owner-occupancy numbers. Stonebridge Lakes is currently at 38% according to their HOA. Such a nice little neighborhood, too. At this point the only people who can afford these condos are investors, so that will wind up becoming a rental zone like many of the other Metrowest neighborhoods. It would be great if we could compile a list somehow of the current FHA “eligible” condos, even though I know that list will change. However, if we can identify them, we will know where to take our condo financing buyers to, and possibly save those neighborhoods from falling under the owner-occupancy rate of 50%.