In recent years, however, the agency has severely tightened eligibility requirements for condominiums and. Gardner, managing member of California-based FHA Pros, told me the 20 percent reserves.
A report released in the past week showed that the FHA has sustained significant losses from loans made before this year, as the country’s foreclosure problem deepened. Its capital reserves have..
Reserve requirements will vary from bank to bank, and from mortgage program to. There is no reserve requirement for FHA loans on 1-2 unit properties.
FHA Approval is required for a buyer to receive a FHA loan to purchase a home within a community association. Learn how to become FHA approved.