Timonium condo

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FHA Condo Recertification Should Get Easier

July 21st, 2016

FHA condo recertification should get easier, thanks to the passage of H.R.3700 - Housing Opportunity Through Modernization Act of 2016 on July 14. It also lowers the current owner-occupancy from 50% to 35%, which should hopefully make more Baltimore County condominium communities eligible for FHA financing. Right now, there are a number of Baltimore County condo [...]

FHA Condo Financing Changes Fall 2012

November 8th, 2012

FHA condo financing has gotten harder for many customers over the past few years. Luckily some changes announced in September could help. The National Association of REALTORS(R) broke down the changes: 1) Investors can buy up to half of project units. The maximum before was 10% investor-owned. 2) More commercial space is allowed in a [...]

FHA Condo Rules Make Selling Many Condos Difficult

November 4th, 2011

Recently, there were changes made to the FHA condo regulations on which projects can be FHA insured or not. According to a Washington Post rundown of the changes, a major one is the "spot approval" that used to be acceptable to be eligible for an FHA loan. Another article goes more in depth on the [...]

12204 Burncourt Road #301 Timonium, MD 21093 *SOLD*

July 2nd, 2011

12204 Burncourt Road Unit #301 is a gorgeous condo in Mays Chapel North. *SOLD* Located in one of the few buildings that runs front-to-back, this condo can get a cross breeze, and you have the privacy of trees behind. Sitting on the porch feels like sitting in a tree house! Well maintained and upgraded, this [...]

FHA Condo Approval Expiration Dates Extended

December 8th, 2010

FHA Condo approval expiration dates were extended by the FHA, and this news shared by one of my mortgage partners, Brian Picker, of 1st Mariner Mortgage Corporation. Thank you, Brian! From Brian Picker, 1st Mariner Mortgage: Big news as older FHA condo projects were set to expire yesterday which would have been a nightmare for [...]

FHA Condo Recertification Due December 7, 2010

November 16th, 2010

With the many changes in the mortgage industry, it is hard to keep up with what deadlines are coming up next. On December 7, 2010, the FHA condo recertification process must be completed by each individual condominium complex in order to be eligible for homebuyers to receive FHA financing in their building. There is an [...]

Timonium Condo FHA Approval

August 9th, 2010

At the end of 2009, HUD changed its' condo approval process for FHA condo financing. No longer can a community be given a "spot" approval when a unit goes under contract if a buyer desires to use FHA financing. Condominium developments must be approved in advance of an FHA sale and the approval is only [...]