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Home » Agency Sets Conditions: FHA Allows 35 Percent Occupancy Rate for Approved Condo Projects
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Agency Sets Conditions: FHA Allows 35 Percent Occupancy Rate for Approved Condo Projects

November 4, 2016
The FHA is decreasing the owner-occupancy rate for approved condominium developments that meet certain requirements, the agency announced recently. Currently, the FHA requires a minimum of 50 percent of the units be occupied by owners. The agency, however, said it would allow a 35 percent owner-occupancy rate if the project meets certain conditions that would make it more financially stable and less of a liability to the Mutual Mortgage Insurance Fund. While having too few owner-occupants could financially weaken a condo project, requiring too many could make...
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