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Seattle FHA Approved Condos For Sale

Every condominium building is qualified for an FHA home loan. The property must be within an FHA approved condominium project unless it is in the process of being approved or recertified for an FHA loan.Seattle FHA Approved condos

If you’re looking to purchase a condo in downtown Seattle you might be considering an FHA loan. FHA has specific approval guidelines for condominiums. Requirements are as such:

  • Projects must consist of two or more units.
  • No more than 25% of the project's total floor area can be used for nonresidential or commercial use
  • No more than 10% of the units can be owned by an investor.
  • No more than 50% of all units homeowners fees are 60 days delinquent.
  • The unit must be covered by hazard, flood, liability and other insurance requirements
  • At least 50% of the total units must have been conveyed will be under a bona fide contract for purchased owner occupant principal residence purchasers.

Condominium associations must reapply for an FHA approval every two years. It needs to either be recertified or they need to reapply to make sure that the property is still in compliance with HUD requirements.

You can check with the US Department of Housing Urban Development on a specific condominium because they do change from time to time. There are over 100 condominium buildings in Seattle alone that allow for FHA loans.

Benefits to FHA

Choosing an FHA loan for your condominium purchase as many benefits including low down payments of just 3.5%. There’s also lower credit score requirements and different options for different credit score requirements. Cash reserves are typically not required, gift funds are acceptable for down payments, there is no prepayment penalty, and they may allow for seller concessions and contributions up to 3% of the sale price.

 

An FHA loan is a great way to go when considering a condominium as long as the building qualifies. Try not to be hung up on this approval as many buildings are approved for FHA. Once you are already approved for an FHA loan on a building and move in, you won’t have to worry if later on the building becomes unapproved.

This is a partial list of FHA condos for sale located in Seattle.  The listings are only as accurate as the agent that has inputted the listing. In order for it to show on the list, the agent would have had to check the FHA approve button.  Feel free to contact us to double check or you can look up FHA approved buildings by click on the FHA look up link on the sidebar located on the right side of the page.

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Newest FHA Approved Condos For Sale

9200 Greenwood Ave N Unit 409, Seattle image
9200 Greenwood Ave N Unit 409, Seattle — Maison $239,950

Relax in your own in-city studio with its very large & private East facing deck. Many updates include newer carpet and paint, washer & dryer, stainless appliances, LED l...

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  • 1 Baths
  • 1659166 MLS
  • ACTIVE Status
Courtesy of Windermere Real Estate Co.

Listing courtesy of Windermere Real Estate Co..

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9030 Seward Park Ave S Unit 409, Seattle image
9030 Seward Park Ave S Unit 409, Seattle — Park Shore Villa $255,000

Charming 1BR/1BA waterfront condo: NEW interior paint, NEW carpet throughout! Fantastic views of Lake Washington! Welcoming Living Room connects to Dining Area with slidi...

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  • 1 Beds
  • 1 Baths
  • 1682052 MLS
  • ACTIVE Status
Courtesy of Prolink Realty, LLC

Listing courtesy of Prolink Realty, LLC.

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5824 NE 75th St Unit D-202, Seattle image
5824 NE 75th St Unit D-202, Seattle — Sandpiper Condominium $274,000 ▼

Welcome to this 1 bed/1 bath condo located on the quiet side of Sandpiper Condo. Desirable location offers private entrance to Burke-Gilman Trail, Minutes to Magnuson Par...

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  • 1 Beds
  • 1 Baths
  • 1683350 MLS
  • ACTIVE Status
Courtesy of Keller Williams Realty Bothell

Listing courtesy of Keller Williams Realty Bothell.

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3318 30th Ave SW Unit B505, Seattle image
3318 30th Ave SW Unit B505, Seattle — Harbor Place Condo $275,000

This West Seattle condo offers an open living and dinning space, generous walk-in closet and plenty of natural light. Alki Beach Trail across the street allows for quick ...

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  • 1 Beds
  • 1 Baths
  • 1722896 MLS
  • ACTIVE Status
Courtesy of Windermere Real Estate/East

Listing courtesy of Windermere Real Estate/East.

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211 Summit Ave E Unit N302, Seattle image
211 Summit Ave E Unit N302, Seattle — Park Summit Condominium $275,000

Come see this perfect urban retreat in the heart of fabulous Capitol Hill - across from Starbucks, bus lines, cafes, bars, parks, & more. You’ll love the quiet ambiance a...

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  • 1 Baths
  • 1729810 MLS
  • ACTIVE Status
Courtesy of John L. Scott, Inc.

Listing courtesy of John L. Scott, Inc..

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425 Vine St Unit 619, Seattle image
425 Vine St Unit 619, Seattle — Montreux $279,950

Great studio in a perfect location in Belltown! Within walking distance to the Space Needle, restaurants, Pike Place Market and public transportation.Amenities include se...

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  • 1 Baths
  • 1721737 MLS
  • ACTIVE Status
Courtesy of Homes & Equity Real Estate Grp

Listing courtesy of Homes & Equity Real Estate Grp.

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905 NE 43rd St Unit 309, Seattle image
905 NE 43rd St Unit 309, Seattle — Novell $285,000 ▼

This beautifully restored 1926 building is the ultimate combination between Urban living with Historic Charm. Original hardwood are a highlight of this sun-filled studio ...

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  • 1 Baths
  • 1661242 MLS
  • ACTIVE Status
Courtesy of COMPASS

Listing courtesy of COMPASS.

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301 23rd Ave S Unit 212, Seattle image
301 23rd Ave S Unit 212, Seattle — 23rd and Main Condo $294,950 ▼

New home for the new year!! Move in ready, adorable 1 bedroom, 1 bath located in the heart of Seattle. Awesome location within blocks to public transportation, groceries,...

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  • 1 Beds
  • 1 Baths
  • 1712993 MLS
  • ACTIVE Status
Courtesy of CENTURY 21 Real Estate Center

Listing courtesy of CENTURY 21 Real Estate Center.

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905 Cherry St Unit 203, Seattle image
905 Cherry St Unit 203, Seattle — Nine Cherry Square $299,950 ▲

NO Rental Cap! 1st Buyers financing failed. Parking available & Back on the Market. The ultimate in city location at Nine Cherry Square! Short walk to Downtown, Capitol H...

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  • 1 Beds
  • 1 Baths
  • 1688217 MLS
  • ACTIVE Status
Courtesy of John L. Scott, Inc.

Listing courtesy of John L. Scott, Inc..

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4525 S Henderson St Unit 302, Seattle image
4525 S Henderson St Unit 302, Seattle — Henderson Condominiums $307,000 ▼

Rare opportunity to affordably own in Seattle! This 2bd/1ba, low HOA dues is centrally located with close proximity to bus lines and the light rail! Easy access to Downto...

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  • 2 Beds
  • 1 Baths
  • 1711963 MLS
  • ACTIVE Status
Courtesy of Coldwell Banker Bain

Listing courtesy of Coldwell Banker Bain.

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The database information herein is provided from and copyrighted by the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright.

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