FHA has come out with new Condo lending guidelines. Here are some of the highlights that will have an impact on buyers and sellers in Welches, Government Camp and Rhododendron.

*Will not insure units if more than 10% are owned by investors. This rule applies to unsold units a builder owns or that are rented out by a developer.

*Will not insure if less than 50% are not sold nor are owner occupied.

*If there are more than 30% FHA loans already in the project, they will not insure. (I don't get that one)

*No financing of condo units within 1,000 feet from a major hiway-to avoid noise pollution impact on values. (Now that is a new one!)

Check with your local mortgage professional to get clarification on any of these items when buying or selling condos in the Mt. Hood area!