The FHA loan guidelines have a greater degree of flexibility than conventional loan guidelines; this includes less strict regulations about past bankruptcies and/or foreclosures, job requirements, use of alternative credit, down payment requirements, and debt-to-income ratios.
For 1-4 family home purchases their are minimal additional requirements above those of a conventional mortgage on similair property type. If your looking to purchase a condominium, the project MUST be reviewed and approved by HUD ( Housing and Urban Development) and obtain a project approval code.
Please feel free to visit the HUD link below. This link will provide access to an approved list of projects. If your particular building is not on the list, it may be underway already or ur Condominium Finance Team has direct access and partnerships to obtain the necessary approval for your project in the event it has not been approved to date. Contact our specialists for additional details.
https://entp.hud.gov/idapp/html/condlook.cfm
