FHA approved complex?

When purchasing a condo/townhouse with an FHA loan, an approved complex is required. Your mortgage broker or direct lender can offer this service for free. This search is run through the HUD website and runs from 8am-9pm Eastern time.

https://entp.hud.gov/idapp/html/condlook.cfm

If you want to be proactive:

Step 1: Approval method should be HRAP/DELRAP
Step 2: Enter state
Step 3: Enter condo name if known
Step 4: Enter zip code
Step 5: Search type is BOTH

You will need to know the name of the HOA/complex. Unfortunately this is not organized by address. The complex should be approved up until the date you close escrow.

Call me with any questions! 818-326-0945


Comments

Post a Comment

Popular posts from this blog

Should I wait for REAL ESTATE prices to go down before I BUY?

LET’S EXPLORE -- Buy my Granada Hills listing Town-House at $375,000 with 20% down payment - $75,000 Estimated Interest Rate: 4.99% Loan Amount: $300,000 Monthly Property Taxes: $391 Monthly Homeowners Insurance: $80 Monthly HOA: $485 TOTAL PAYMENT: $2,564.63 OR wait for the market to go down 10% and purchase at $337,500 Estimated Interest Rate: 6% Loan Amount: $270,000 Monthly Property Taxes: $352 Monthly Homeowners Insurance: $80 Monthly HOA: $485 TOTAL PAYMENT: $2,535.79 While you wait you're paying someone else's mortgage by renting and not receiving a tax benefit. On top of that the total cost for the higher interest rate is much more in the long run. .. you decide.
Read more

Septic tanks in The Valley?

Yes, there are plenty of septic tanks throughout the San Fernando Valley . Unfortunately, they are a surprise to some buyers (and sellers). The upside is that you aren't responsible for a city sewer charge, and the downside is that you must occasionally service these tanks. Before purchasing (or selling) a home you may want to check out this city website*: http://navigatela.lacity.org/index.cfm After accepting the disclaimer: 1. Type in the subject property address and wait for it to display a link 2. Click the parcel description to the right of the address link 3. Click "parcel sewer wye report" -If a record is pulled up with a permit number; chances are you are connected to the city sewer. -If no record is found and it states "No Sewer Wye Permit found for this parcel"; chances are you have some sort of septic system. *This is the quickest and most accurate way to determine if a home has a septic system (other than digging it up). Jesse James 818-326-094...
Read more

HELP for the Holiday!

This year has been difficult for many homeowners. People are struggling to meet their mortgage and property tax obligations. I’m sure you have received mailings from companies offering to help you “modify your home loan” or “reduce your property tax”. I would like to shed some light on these offers and point out some options that you have. Property Tax: The County will reduce the assessed value of your home for FREE. I haven’t had a chance to contact all of you regarding the Proposition 8 form. If you feel your home is worth less now than it was when you purchased it, give me a call. Don’t pay anyone for this service! For more info go to: http://assessor.lacounty.gov/extranet/list/newsList.aspx?newsid=78 Loan Modification: There are many private companies offering to modify your loan for a fee of $2,000 - $8,000 up front. These companies may help a homeowner get out from underneath a payment they simply cannot afford, but loan modifications can also be done for FREE. I have attached a...
Read more