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  2. How does a condo mortgage work? - AOL

    www.aol.com/finance/does-condo-mortgage...

    Condo unit must be your primary residence. FHA loan. You can search for FHA-approved condos through the U.S. Department of Housing and Urban Development (HUD) website. The qualifications for an ...

  3. Are high prices keeping you from homeownership? Consider a condo

    www.aol.com/finance/pro-tips-buy-condo-2024...

    And if you’re looking to use an FHA mortgage, browse the listing of Federal Housing Administration approved condos online to make sure the properties you’re looking at are eligible. 4. Think ...

  4. FHA insured loan - Wikipedia

    en.wikipedia.org/wiki/FHA_insured_loan

    An FHA insured loan is a US Federal Housing Administration mortgage insurance backed mortgage loan that is provided by an FHA-approved lender. FHA mortgage insurance protects lenders against losses. [1] They have historically allowed lower-income Americans to borrow money to purchase a home that they would not otherwise be able to afford.

  5. List of condominiums in the United States - Wikipedia

    en.wikipedia.org/wiki/List_of_condominiums_in...

    A condominium or "condo" is a form of housing tenure and other real property where a specified part of a piece of real estate (usually of an apartment house) is individually owned. Use of land access to common facilities in the piece such as hallways, heating system, elevators, and exterior areas are executed under legal rights associated with ...

  6. How to prepare for FHA appraisal requirements - AOL

    www.aol.com/finance/prepare-fha-appraisal...

    For a condominium, the appraiser will complete a Condominium Unit Appraisal Report. In addition to reviewing the home’s condition, the appraiser will provide the FHA with an opinion regarding ...

  7. Reverse mortgage - Wikipedia

    en.wikipedia.org/wiki/Reverse_mortgage

    The extra $25,000 would be paid from the FHA insurance that was purchased when the HECM loan was originated. A reverse mortgage cannot go upside down. The cost of the FHA mortgage insurance is a one-time fee of 2% of the appraised value of the home, and an annual fee of 0.5% of the outstanding loan balance. [20]

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