The Saint Paul Condo Blog

It's with great pleasure I get to bring you this news, the Pointe of Saint Paul, has been fully approved for FHA financing by the Department of Housing and Urban Development (HUD)!  This has been a long project of nearly 6 months, but worth every ounce of effort that went into it.

What does this mean for buyers or sellers? 

For buyers, you now will have an easier time qualifying as the down payment requirement drops from 10% down to 3.5%.  Also, the credit requirements are a little easier than what a conventional loan sets.

For sellers at the Pointe, this will open up your home to potentially many more buyers who previously could not qualify for the property because of that higher down payment requirement.

I ran a search of all properties in downtown that are FHA (HUD) approved and the list is small.  MarketHouse, Mississippi Flats, Panama Flats and now the Pointe of St Paul are the only ones out of 27 possible buildings.

If you live in a condo building in Downtown and want to get your condo association FHA approved, I am putting proposals together for others to get you through and approved.  Just give me a call or shoot me a email.