The Federal Housing Administration’s (FHA) long-awaited condominium final rule and implementation guidance is intended to bring regulatory relief to the industry by providing for increased flexibility and responsiveness to ever-changing market conditions.
FHA estimates that the new rule would make between 20,000 and 60,000 more condominium units eligible for FHA-insured financing annually. It is set to take effect Oct. 15.
Learn more details about the policy update.