Ameristar Mortgage Blog

There are a lot of condos in Illinois and Wisconsin which are not on the FHA approved condo list. With FHA loans being the most popular program of recent with low downpayment requirements and flexible credit standards, it’s hard to purchase a condo while taking advantage of the FHA program.

With so many condos on the market, especially in Chicago and Milwaukee, there still are options to get a condo “spot loan approved” so that you can take advantage of FHA financing.

FHA condo spot loan approvals have certain criteria that must be followed and has been set by HUD. You can review the FHA spot loan approval checklist (PDF) and if the condo association answers true to everything, then we can submit the loan to FHA underwriting for approval.

Contact an Ameristar Mortgage FHA condo specialist today for addtional information.

Ameristar Mortgage is your Illinois and Wisconsin mortgage banker:

Dennis Hardy
Toll Free: (877) 240-5840 x23
dennis.hardy@ameristarmadison.com
www.AmeristarMadison.com

Visit my blog at http://www.ameristarmadison.com/blog/

Down payment assistantance (DPA) are going away. Visit http://www.ameristarmadison.com/announcements/FHA_down_payment_assistance/updates/index.htm for details.

FHA loan limit announcement: http://www.ameristarmadison.com/blog/content/its-official-illinois-2008-fha-loan-limits-to-rise/
or on our website at http://www.ameristarmadison.com/announcements/FHA_loan_limits.htm

Wisconsin communities Appleton | Waukesha | Oshkosh | Lake Geneva | De Pere | Waunakee | Fremont | Stoughton | New London | Sun Prairie | Neenah | West Bend | Waupaca | Wisconsin Dells | Green Lake | Portage | Fond Du Lac | Racine | Chilton | Madison | Monroe | Kenosha | Watertown | Milwaukee | Wausau | Menomonee Falls | Janesville | Eau Claire
 
Illinois communities Chicago | Aurora | Waukegan | Rockford | Naperville | Joliet | Cicero | Peoria | Elgin | Schaumburg | Arlington Heights | Northbrook | Mount Prospect | Glenview | Normal | Buffalo Grove | Evanston | Wheaton