Program Description
This program can help individuals buy a home in a condominium
development that will be their place of residence. While HUD does not lend
money directly to buyers to purchase a home, FHA-approved lenders make loans
through a number of FHA-insurance programs.
General Program Requirements
In order to qualify for this benefit program, you must be a current
or prospective homeowner.
Loan Terms
Market Interest Rate, with an Upfront "Funding Fee" and no
Pre-payment penalties. Maximum Loan Length 30 years. Maximum Loan Amount
based on area loan limit. Monthly Payment Frequency.
Application Process
For more information, see the Program Contact Information below.
Program Contact Information
To read more about this program, go to:
http://www.hud.gov/offices/hsg/sfh/ins/234c--df.cfm
To read more about the home buying process, please
visit:
http://www.hud.gov/buying/index.cfm
To obtain a FHA-insured mortgage, look in your local Yellow Pages
under "Mortgages" or contact a FHA-approved lender:
http://www.hud.gov/ll/code/llplcrit.html
Managing Agency
U.S. Department of Housing and Urban Development
http://www.hud.gov/
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