Here is a list of FHA approved condominiums in Atlantic County, NJ
Here is a list of FHA approved condominiums in Atlantic County, NJ. Based on findings at HUD.gov. Financing for condos with an FHA loan can be challenge. Under the revised guidelines – which took effect Oct. 15, 2019 – an individual condo unit in a building of 10 units or more may be eligible for spot approval if no more than 10% of the units are FHA-insured. So even if a condo is not on the FHA approved list it may still be eligible for FHA financing.
If FHA financing is not an option there are other choices include USDA loan (100% financing), and some banks do offer a 3% conventional loan. Contact us if you’re interested in financing a condo purchase.
10 N ADAMS AVE
MARGATE, NJ 08402
THE FOUR SEASONS CONDO
NORTHFIELD, NJ 08225
THE MEADOWS AT HAMMONTON
HAMMONTON, NJ 08037
THE VILLAGE AT LINWOOD
550 CENTRAL AVE
LINWOOD, NJ 08221
824 MARSHALL CT
VENTNOR, NJ 08406
These condos are approved for as low as 3.5% down payment FHA home loans.
UPDATE: 2/21/2020. We just sold a lovely 2 bedroom condo in Society Hill II in Galloway Township and the sale was approved via FHA with a spot approval.
Kimberly and William received $16,000 to purchase their first home.
Kimberly and William were looking to buy their first home and were referred to me by a for sale by owner. They ended up not buying the for sale by owner home and instead found a home at lower price that had been completely redone including new roof, siding, windows, kitchen, bathrooms, heater, air conditioning, septic system and well.
Here’s the best part, they were able to qualify for the NJ Home Seeker grant for $16,000 to help them pay their down payment and closing costs. Not everyone qualifies for the grant and the process to receive the grant is tedious and time consuming. So to get funding for the grant allow for another 4-6 weeks of transaction time. In the end Williams and Kimberly purchased a fantastic home at a great price and their new mortgage payment is less than what they would have spent in rent.
Who do you know that would like to buy their first home? Please have them call me or contact me here. I’ll be happy to go over home buying options including financing and any available grant programs. Best wishes,