As the days and months pass, certain Santa Clarita condo communities come on and offline as being FHA approved. Many homebuyers need to utilize FHA loans for various reasons in order to get into a homeownership position. Two main reasons why FHA loans may appeal to a homebuyer are:

1) It offers a lower down payment alternative which can be helpful for first time homebuyers.

2) It allows homebuyers to purchase a home where their credit score may be lower and or their debt may be a bit higher.

Condo communities that are FHA approved come with an expiration date on their approval status. Once the approved status expires, it must be re-approved. That requires some work by either the HOA, a homebuyer, a lender, or residents in the community… or a combination of any of those.

As of SEPT 1, 2021, in Santa Clarita, there are now 31 condo communities that are APPROVED for an FHA loan. If you’re going to be using an FHA loan to buy a condo sometime over the next 6-12 months, it’s a good idea to stay on top of which condo communities will be options for you as it relates to their approval status, and of course the going market values for condo homes in those communities.

Linked below, is an update provided by Keith Renno at Wintrust Mortgage showing exactly which Santa Clarita condo communities are FHA approved and their corresponding expiration date.

CLICK DOWNLOAD BUTTON BELOW FOR SANTA CLARITA APPROVED FHA CONDO COMMUNITIES

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Robert Mickalson, Realtor, Mickalson Group, Keller Williams VIP Properties, DRE #01313126, (661) 373-2374