Reapply for FHA certification for Seminary Walk Condominiums
Mortgages guaranteed by the FHA represent an important aspect of the housing market and will be a key to recovery in this sector. FHA-insured mortgages will enable a buyer to obtain loans with as low as a 3.5 percent down payment and will cover mortgages in this geographical area up to $417,000. Seminary Walk has allowed their certification to expire and without certification the buyer pool has significantly decreased. In this economy, most people do not have the conventional 20% down payment. It is imperative, that unit owners get their voices heard and let the board know that we MUST re-certify now.