
The U.S. Department of Housing and Urban Development (HUD) is expected to release updated guidance on FHA-insured condominium financing. The new rules should benefit buyers by making low down-payment mortgages on condominiums more available to first-time homebuyers, small families and those who live in urban areas. “Condominiums are often the most affordable option for first time home buyers, small families, and those in urban areas,” said NAR President John Smaby, in a statement issued to the media Wednesday morning. “We are thrilled that (HUD) Secretary (Ben) Carson has taken this … Continue reading...