The Seattle Condo Blog | Seattle Condos and Lofts

The effect of FHA’s 2010 condo approval and recertification changes are leaving condo buyers with fewer options as associations overlook or neglect FHA certification.

On October 1, 2011 the increased loan limit for FHA Loans expired reducing the limit in the Seattle area from $567,500 to $506,000 for FHA back loans, potentially affecting upper-end purchases. Last week, FHA got a reprieve from Congress, which reinstated the higher loan limits in 42 states through 2013. For the Seattle/King County area [...]

The deadline for HUD’s Emergency Home Loan Program for at-risk homeowners facing foreclosure is coming up this Friday.

The FHA and conforming loan limits are expected to reduce by $61,500 effective October 1, 2011.

Mortgage interest rates are at a year-to-date low, the lowest in 20 years. Plus, Wells Fargo offers a 3% down no mortgage insurance program.

FHA’s monthly mortgage insurance premium rate will increase as of April 18, 2011 by 0.25%, which could increase monthly mortgage payments by as much as $100.

The Mortgage Credit Certificate is an often overlooked tax credit that’s worth $1000s for first-time home buyer’s.

Linkage: Condo HOA’s foreclosure option for delinquent owners; FHA changes create resale challenges for condo sellers.

Time is running out for FHA condo recertification of hundreds of Seattle area condos. If your building was approved for FHA prior to October 2008, it must be recertified to keep its approval status.

Mortgage Help Day connects homeowners facing foreclosure with their lenders and HUD-certified counselors to help remedy their situation.