Consumption and Real Estate
FHA loans for condos different than single family?
Are there different requirements for a condo purchase with an FHA loan besides the condo having to be approved? If I am pre-approved for a single family home, is there a difference in the loan amount that I would be approved for with a condo?
Since a condo will have monthly Home owner’s Association dues, those need to be considered in your debt ratio, so that may make a difference in what you qualify for.