Condominium Unit Purchase (Mortgage Insurance - HUD/FHA)

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.

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

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.

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

Contact Information (Register above for free access!)

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To read more about this program, go to:

http://www.hud.gov/offices/hsg/sfh/ins/234c--df.cfm

To read more about the home buying process, please visit:

http://www.hud.gov/buying/index.cfm

To obtain a FHA-insured mortgage, look in your local Yellow Pages under "Mortgages" or contact a FHA-approved lender:

http://www.hud.gov/ll/code/llplcrit.html

Managing Agency
U.S. Department of Housing and Urban Development
http://www.hud.gov/

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