FHA Condo Loan Program
Multiple Product Options
• No more than 50% of the units can be investor-owned / rentals.
• No more than 50% of the property can be used as commercial space
• No more than 15% of units can be delinquent in their HOA assessments for more than 60 days
• No more than 50% concentration of FHA Loans within the community
• Properties with more than 20 units, no single investor, entity, or related party may own more than 10% of the units within the project.
• Properties with 20 units or less, no individual owner, entity, or related party may own more than one unit.
• Reserve requirements may apply
• Insurance requirements may apply
Contact us today for more information!
Copyright©2019 Geneva Financial, LLC, NMLS #42056
This is not a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet LTV requirements for refinances, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines. Approvals are subject to change without notice based on the applicant’s eligibility and market conditions. Geneva Financial LLC is not acting on behalf of or at the direction of HUD/FHA or the Federal Government. Geneva Financial LLC is approved to participate in FHA programs but the products and services performed by Geneva Financial LLC are not coming directly from HUD or FHA. Geneva Financial LLC #42056 is an Equal Opportunity Lender and Equal Housing Lender. 3155 S. Price Rd Chandler, AZ 85248. AZ#0910215 Corporate: 3155 S. Price Road • Suite 105 • Chandler • AZ • 85248