Condominium Unit Purchase (Mortgage Insurance - HUD/FHA)

General Loan Program Requirements
In order to qualify for this benefit program, you must be a current or prospective homeowner.

Loan Program Description
This program can help individuals buy a home in a condominium development that will be their place of residence. While HUD does not lend money directly to buyers to purchase a home, FHA-approved lenders make loans through a number of FHA-insurance programs.

Loan Terms
Market Interest Rate, with an Upfront "Funding Fee" and no Pre-payment penalties. Maximum Loan Length 30 years. Maximum Loan Amount based on area loan limit. Monthly Payment Frequency.

Loan Application Process
For more information, see the Program Contact Information below.

Loan Program Contact Information
To obtain a FHA-insured mortgage, look in your local Yellow Pages under "Mortgages" or contact a FHA-approved lender.

Loan Managing Agency
U.S. Department of Housing and Urban Development