Community Corner
Real Estate Report: FHA Loosens Regulations
The Federal Housing Administration (FHA) is making it easier for certain people -- including empty nesters -- to get loans to modify their homes.
Many buyers use FHA loans to purchase their homes due to the low down payment (3.5 percent). However, not all types of residential property were available for FHA loans.
Many folks, especially empty nesters, no longer want the huge house and big yards. They would prefer a condo type community. Until now, the entire building would have to be certified by FHA, meeting their standards.
This was problematic for folks who wanted to buy and sell because it eliminated an entire part of the lending community.
Find out what's happening in Gwinnettwith free, real-time updates from Patch.
We’ve removed the ability to reply as we work to make improvements. Learn more here
