Hoboken condominium buyers seeking FHA financing have found it difficult to find buildings that could either meet FHA requirements, or have already been FHA approved. This is for several reasons, from the builder's just simply never applying for FHA approval, to there not being adequate insurance, or owner to tenancy ratios... FHA approved buildings in Hoboken are not that easy to come by. You should work with an agent that is experienced and versed in FHA requirements so that they can more easily identify a building that on the surface looks like it could pass approval, then dig a little deeper once you have seen the home to have the questionnaire filled out for confirmation of approval.
I thought it would be helpful to publish a list of buildings that have already been approved. Here is an updated, current list of buildings in Hoboken.
There are several others that are now pending and will be updated in the near future.
125 WILLOW AVENUE
125 WILLOW AVENUEHOBOKEN, NJ 07030
Entire project, 9 units total
Approved
04/05/2010
04/05/2012
132 ADAMS STREET
132 ADAMS STREETHOBOKEN, NJ 07030
existing project 7 units, need ho-6 policy
Approved
04/19/2010
04/19/2012
218 JEFFERSON STREET CONDOS
218 JEFFERSON STHOBOKEN, NJ 07030
1 BUILDING - 9 RESIDENTIAL UNITS - RECORDED DOCS ON FILE IN HOC.
Approved
04/07/2010
04/07/2012
405 FOURTH STREET CONDOMINIUM
405 4TH STREETHOBOKEN, NJ 07030
8 residential units-certify 51% owner occupancy requirements at time of endorsement.
Approved
10/30/2009
10/08/2011
422 BLOOMFIELD STREET
422 BLOOMFIELD STREETHOBOKEN, NJ 07030
CONVERSION/8 UNITS/4 STORY BLDG
Approved
11/23/2009
11/19/2011
531 GARDEN STREET CONDOMINIUM
CITY OF HOBOKEN, NJ 07030
1 BLDG - 4 UNITS - 1 YEAR RESTRICTION NOT APPLICABLE - VACANT BLDG
Approved
06/22/2009
06/22/2011
60 MADISON ST. CONDOMINIUM
CITY OF HOBOKEN, NJ 07030
CONVERSION OF VACANT BUILDING;FOR ENDORSEMENT CERTIFY 51% PRESALE & OWNER-OCCUPANCY;RECORDED MASTER DEED MUST BE SUBMITTED PRIOR TO ENDORSEMENT OF ANY LOAN.PROCESSOR:FRAN GRIFFIN/PHILA. HOC
Approved
07/30/2009
07/30/2011
ADAMS SQUARE CONDOMINIUM
HOBOKEN, NJ 07030
CONVERSION 59 UNITS APPROVED CERTIFY 51% OWNER/OCCUPANCY/PRESALE
Approved
03/13/2009
03/13/2011
CLINTON MILLS CONDOMINIUM
1026-34 CLINTON STHOBOKEN, NJ 07030
CONVERSION - TOTAL UNITS 37
Approved
10/30/2009
10/09/2011
JEFFERSON TRUST CONDOMINIUM
HOBOKEN, NJ 07030
CONDS: C05 & C06 100 UNITS, 8 STORY BUILDING
Approved
08/22/1994
12/07/2010
METRO STOP CONDOMINIUM
HOBOKEN, NJ 07030
1 (11 STORY) BUILDING - 113 RESIDENTIAL UNITS CERTIFY 51% O/O/PRESALE; 10 YR HUD APPROVED WARRANTY FOR MAX LTV; FINAL BY FEE INSPECTOR IF NOT 100% COMPLETE AT TIME OF APPRAISAL
Approved
06/15/2009
06/15/2011
ROBERTS COURT CONDOMINIUM
456 9TH STHOBOKEN, NJ 07030
CONVERSION 56 UNITS CERTIFY 51% OWNER/OCCUPANCY
Approved
03/31/2010
03/12/2012
SATORI HOBOKEN CONDOMINIUM
705-707 MONROE STREETCITY OF HOBOKEN, NJ 07030
8 units- recorded legal docs are on file in our office.
Approved
04/16/2010
04/16/2012
SATORI LOFTS CONDOMINIUM
ALL ADDRESSES FOR PROJECTHOBOKEN, NJ 07030
12 UNITS/ 5 STORY BLDG/ 11 PARKING SPACES RECORDED LEGAL DOCS ON FILE
Approved
04/21/2010
04/21/2012
THE 110 BLOOMFIELD STREET
HOBOKEN, NJ 07030
CONDO CONVERSION - 4 UNITS - 1 YR RESTRICTION DOES NOT APPLY.
Approved
08/21/2009
08/21/2011
THE BEVELI ARMS CONDOMINIUM
917 WILLOW AVENUEHOBOKEN, NJ 07030
1 (5 story) Building - 10 Residential Units
Approved
03/17/2010
03/17/2012
VESTA HOBOKEN CONDOMINIUM
Approved
10/29/2009
A Hoboken and Jersey City Real Estate Blog by Karina Abad, realtor at Keller Williams Towne Square. Real estate market news, condos, homes and brownstones, buying and selling tips and local community info.
Hello,
ReplyDeleteThe FHA requires buyers with down payments less than 20 percent of the final home sale price to purchase mortgage insurance. FHA provides a loan checklist for borrowers, which outlines requirements and information you must provide for loan approval. Thanks a lot.