FHA home requirements state that FHA-approved condos and homes must be safe, sound and secure to qualify for an FHA loan. Appraisers decide if minimum fha property requirements are met.
"Condominiums will have a much easier time getting certified by FHA, and Realtors will have more options for clients looking to purchase a condo with an FHA mortgage," Salomone continued.
FHA loans are an important part of today’s housing market – both for single-family homes and for condos. For many US borrowers, FHA loans are the cheapest, most-accessible low-down payment.