As you may know, as of today, there are only a handful condo complexes worth mentioning in all of Maui County that are approved for FHA financing. Having a condo FHA approved opens the door literally to a much larger pool of home buyers that otherwise couldn't qualify to buy on Maui. If you would like to team up with me to get more complexes re-approved or approved please reach out to me!
As one of the most popular types of home mortgages, FHA loans can offer a unique and essential option, especially for first-time home buyers. Backed by the Federal Housing Administration, the loans combine less restrictive financial requirements with generous lending terms to create an attractive alternative to conventional financing.
While many borrowers may be aware of the 3.5 percent minimum down payment or that a credit score as low as 580 can still qualify, FHA loans also have lesser-known benefits that are worth factoring into a mortgage decision.