Monday, August 23, 2010

FHA Approved Buildings in Hoboken

 Ever wonder which buildings were FHA approved in Hoboken?  Here is the latest list of approved buildings. A building has to meet certain requirements for it to qualify for an FHA loan - which typically has a much lower down payment requirement than conventional mortgages.  The building typically has to be at least 50% owner occupied and no one owner can own more than 10%.  By default, buildings with less than 10 units won't qualify without an exception.  Exceptions were possible before the mortgage meltdown but now are virtually impossible.  In fact, there are very very few buildings nationwide that are being approved for FHA because of today's financial conditions.

If you want to use an FHA loan for your home purchase, use this list.  FHA Approved Bldgs in Hoboken                                                            

Provided by Donna Antonucci
Prudential Castle Point Realty

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