Question by Midian: How long does it take to get a Condo approved for a FHA Loan?
Me and my husband are trying to Buy a condo in Utah. We have been approved for the FHA Loan and we have been waiting for the home to be FHA approved. . . . . we’ve waited almost 2 months. How long does it usually take for a Condo to be FHA approved?
Best answer:
Answer by I is Smart!
Condos can take a long time. FHA has strict guidelines on condo associations and most of them are becoming insolvent. FHA only guarantees top tier loans sometimes and requires a lot of strict underwriting. You should be able to go to the FHA website and find out if your condo development is approved under FHA guidelines.
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You could be waiting a LONG time. Where I live there are some condo developments which have been waiting for such approval for over five years now. Either look for a different condo development, or drop the idea of a FHA loan.
Another 4 months. You will be waiting for loan to be approved then the condo Board to accept you
There have been a several options for lending.just you have to choose depending on your purpose.Most people come up with bad credit for a loan.i don’t think it is not hard to get now a days with out having fair credit score.check this is place may be a help to find solution.
http://www.bestonlineloancompanies.com
You can get approved for an online loan on same day.i advise you to pick loan from certified lenders .direct loan is the good choice so that you will get at low apr compared to different states..