The Federal Housing Administration today lowered its owner-occupancy requirement for condominium financing, effective immediately. Previously, condominiums approved for FHA financing were required to be in developments with an owner occupancy percentage of at least 50 percent. With today’s announcement, financing can now be approved in developments with 35 percent owner-occupied units – provided that certain conditions are met. FHA expects this move to increase mortgage lending to lower-income and first-time homebuyers.
Survey finds younger generations more likely to start building wealth at early age
Today’s young adults are beginning to build wealth years earlier than older generations did, but many of them still see homeownership as out of reach, according to a new survey by U.S. Bank.








