MORTGAGE MONDAY

Great news for first time homebuyers, members of the military, low-income buyers and seniors looking to trade down!!! Last week the FHA announced a new program that will make it easier to get loans on condominiums throughout CA. The program calls for the FHA to back some mortgages on individual condominium units in condo complexes that are not approved by the agency. Unlike conventional mortgages that require 20% down, the FHA backs loans that require 3.5% down payments. With the expansion, the number of condo options will increase substantially making it easier for buyers to jump into home ownership.

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Sothebys International Realty
9255 Sunset Blvd.
West Hollywood, CA 90069

keith.kaplan@sothebyshomes.com

310-646-7791

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