News
NO MONEY DOWN...WELL SOME...BUT NOT MUCH!
March 26, 2010
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| Looking to buy but not eager about 20% down? Berkeley Investments announced that the FHA has accepted its FP3 as a property for which it will insure mortgage loans. Translation: buyers need only put down 3.5% for a loan amount up to $523,750. To qualify for FHA approval, a project must meet a list of requirements and be at least 51% sold. FP3, a renovated Ft. Point warehouse with new construction designed by David Hacin, has 92 luxury condo units, loft style, one and two bedrooms priced from $300k to $2M. The retail includes three Barbara Lynch restaurants; Sportello, Menton, and Drink. Cheers. |
