Jacksonville Condo Market Benefits from FHA Easing Underwriting Guidelines

14 11 2009

FHA announced it will temporarily relax its underwriting guidelines and will extend spot approval until February 2010 for condo projects that have not been approved for FHA lending. It will increase number of Jacksonville condos that can be financed with FHA loans, investor ownership in condo can go up to 50%, and reduce a presale requirement in new construction to 30% down from 70%.



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