It can be very challenging, if not impossible, to find FHA approved properties in the downtown Los Angeles area. The status of FHA/VA approved buildings is a dynamic hit-or-miss situation because the Federal Housing Administration has various strict requirements for buildings. For example, one community in Downtown recently lost their FHA approval because too many rental units are in their building. Alta lofts building temporarily lost FHA / VA approval because the number of FHA borrowers was maxed out. So, though today, a building may or may not be FHA approved, tomorrow your loan might not go through, or a lender can request the FHA to approve or re-approve a building.
Often the best option is to buy a house or condo outside of Downtown, or to find some of the new loft developments around the area. New construction is more likely to offer FHA/VA programs for buyers.
These Downtown loft and condo buildings have currently or previously been approved for FHA financing, so they offer the greatest possibility of financing with 3.5% or 5% down:
If you have any more questions about Downtown Los Angeles lofts and condos, request more updated FHA info. Fill out the online form:
How to Secure Super-Low Downpayment Home Loans When You Buy a Home
Los Angeles – A new report has just been released which identifies a foolproof 3-point plan which any homebuyer can use to secure the best financing rates when they buy a home.
When you’re looking to buy a home, the first thing most homebuyers do is start the process of househunting. However, experience proves that this is one of the last steps you should be taking if you want to get the most home for the least amount of money. In fact, shopping for the best financing should start long before you start shopping for a home.
The experience of thousands of area homebuyers has been summarized in a new report entitled “Best Financing: A 3-Point Plan”. This report outlines 3 critical steps you must take to obtain the absolute best financing rates when you buy a home. It tells you where you should go, what questions you should ask, and how to manage the process to your personal advantage. To order a FREE Special Report, visit www.LowDownLA.com
Get your free special report NOW to learn how to obtain the best financing rates when you buy your next home.
LOFT & CONDO LISTINGS DOWNTOWN L.A. [MAP]