FHA Eligibility Indicators for all Condos now Available through Matrix System
The West San Gabriel Valley AOR is pleased to announce the new FHA eligibility status report within the MLS search function. Members will be able to see the FHA eligibility for the condominiums listed for sale within MLS system. The benefits of FHA financing to home buyers include:
- Lower down payment options
- Relaxed underwriting guidelines
- Potential for assumable loans
Agents and Homebuyers will see a traffic light icon on condominium listings which will link to a report detailing the current FHA status of each unit. In addition, information will be available to Agents who would like to learn more about obtaining FHA approval for their listings.
These benefits translate into a larger pool of potential buyers!
You can find the new stoplight icon on the grid view when you search for properties. There will also be a link on the property detail report. Clicking on the icon or link will open the FHA eligibility report indicating the unit’s status and provide information about getting an association approved for FHA financing, if desired.
This new feature, brought to you by FHA Pros and RatePlug, amps up the already powerful RatePlug program which allows for the display of real-time housing payment information within MLS property listings. This helps real estate professionals and homebuyers effectively search for affordable properties. The system uses live lending data from lenders who are referred by and work with participating Brokers. RatePlug is also available to West San Gabriel Valley AOR members at no additional cost!
For more information about the New FHA feature or RatePlug, click here.