Downtown Grand Rapids Condos That are FHA Approved

13 10 2009

 

Grand Rapids Condos Downtown Grand Rapids offers some incredible condos from cool, affordable urban studios at the Hillmount or the Boardwalk condos, to luxurious penthouses and lofts at Riverhouse condos or the Fitzgerald Condos. One of the problems we have been experiencing with buyers wanting to purchase a downtown Grand Rapids condo has been financing. Many of the condos, especially the “boutique” condos like Peck, Front Row, Cityview or 65 Monroe require a conventional mortgage with ten to twenty percent down. It can be difficult to come up with that amount of cash  on hand.

Having said that, there are some condos that are FHA approved. This is important to many buyers, especially first time condo buyers looking to capitalize on the $8000 Tax credit. With an FHA loan, you need only pay a 3.5% downpayment on the loan. Much better than 10% or 20%!

Boardwalk Condos Boardwalk condos are FHA approved! Just before last Christmas they were approved. Boardwalk is a great building with many amenities including a pool hot tub area, game room, theatre room, fitness center, roof top deck, salon and JD Reardon’s bar. These condos are loft style with exposed brick, exposed duct work, river views and tall ceilings. Many floor plans are available from studio, 1, 2 and 3 bedrooms and there are two courtyards, one with the pool and the other with a peaceful, wooded area where the outdoor grills are located.

The Hillmount condos are FHA approved! The Hillmount condos offer aHillmount Condos little different feel to the Boardwalk. The building itself is an older, solid brick buillding and it does offer a few amenities such as wireless (wifi) internet, fitness center and an awesome rooftop deck with grill. Many of these condos offer lovely hardwood floors and updated kitchens with stainless steel appliances. This is a great building located at the corner of College and cherry, minutes from the downtown core. Pets are allowed.

Union Square condos Union Square condos are FHA approved! Union Square is one of the coolest buildings in town. You have probably seen it while driving on the expressway at the junction of I-96 and US-131 highways. The building is the Union Square High School and there is a big mix of condos here from affordable 1, 2 and 3 bedrooms which also includes some incredible penthouse units. Amenites include a very nice fitness center and the  roof top deck, pool and hot tub. These condos are loft style similar to Boardwalk but with more floor plans and larger windows. Some of the old school features like chalk boards and lockers have been blended in with the modern condo features.

Fulton Street Flats are FHA approved! This is a new addition to the downtownFulton Street Flats condo scene and has just been approved. These are affordable 1 and 2 bedroom condos with some nice standard features accross the street from Davenport University and minutes to the downtown core. Some features include large balconies, hardwood floors and granite counters. I like the location here and for the money, you get a good sized condo with reasonable association fees, parking and laundry rooms in each unit.

For more information on any of these Grand Rapids downtown condos, visit my website or contact me any time.

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Boardwalk Condos FHA Approved – Downtown Grand Rapids Condo Update

9 01 2009

 

Boardwalk Condos are now FHA Approved!

Boardwalk Condos Boardwalk Condos are located at 940 Monroe Ave NW and are now FHA approved up to 3%. This means that qualified buyers can now obtain an FHA Mortgage with a 3% downpayment. This was just changed in December ’08 and will certainly help sales at Boardwalk Condos. Before this, an interested buyer would have to have at least 10% down and that is hard for most people in this price range in this market. 3% is alot more manageable.

FHA (Federal Housing Administration) is an agency of the federal government that insures private loans which are issued for new and existing housing. FHA was created by congress in 1934 and became a part of HUD (Housing and Urban Development) in 1965.

Boardwalk condos are about 1 mile north of the downtown Grand Rapids Boardwalk Condo Amenitiescore. The building is a solid, old brick construction that overlooks the Grand River, just north of the Fish Ladder. Boardwalk Condos offer their owners many great amenities that you won’t find in other downtown condos. JD Reardons (restaurant and bar), Game room, Theatre room, Endurance Fitness Centers, a beauty salon and two courtyards. One courtyard has a pool and hot tub and the other has a green area with grills, park benches and trails. During the summer months, the Boardwalk keeps Kayaks available for use down by the river.

The condos themselves are a cool, urban loft style with exposed brick, exposed wooden beams and ductwork. Out of 200+ condos, approximately 40 remain. These are studio, 1, 2 and 3 bedrooms and each condo has secure, covered parking with prices from $80k for a studio to over $400k for one of the larger 3 bedroom units.

One of the perks of buying a new condo at the Boardwalk is the low interest rate. The building falls under a Community Reinvestment Credit which gets you an interest rate that is 1.5% lower than the current rate. As of today (January 9th,2009) that would get you a 3.8% rate locked in for 15 or 30 years from National City Bank. That is huge!!!

For more information on these or any other homes or condos in the Grand Rapids area, visit my website to search for Grand Rapids homes or condos and contact me any time.

Click Here to preview the available Boardwalk Condos.





Boardwalk Condos – Downtown Grand Rapids Condos

26 11 2008

 

Boardwalk Condos

A Fun Downtown Community

Boardwalk condos are a fun community about 1 mile north of the downtown core, located at 940 Monroe NW. This lovely brick building is fully loaded with amenities including J.D Reardon’s, Endurance Fitness Center, salon, large deck area overlooking the pool and hot tub and secure covered parking. Boardwalk condos offer individual units with tall beamed ceilings, exposed brick and the original exposed wood beams. Laundry hookups are available in each unit as well as a laundromat onsite. Boardwalk condos have the added bonus of being right across the street from the Grand River which boasts great fishing near the fish ladders and walking paths.

 

Boardwalk Condos Amenities
The Boardwalk has a nice rooftop deck and is in a good location with which you can see the river and watch the fireworks. it’s a great place to relax with some friends, grill a few steaks and enjoy some good company. The condos on the upper floors can be equipped with their own seperate rooftop deck with a winding staircase from the living room.
Prices range from ~$99k for 1 bedroom and ~600 sq/ft to ~$440k with 3 bedrooms and over 2200sq/ft. Monthly association fees vary but for example, a 1000 sq/ft condo’s fees are ~$255/mo. There are studio units available as well.

 

 Boardwalk Condominiums

One of the ways that Boardwalk Condos are unique is that it boasts 2 seperate courtyards. One has a large terrace off of JD Reardons overlooking the pool and hot tub area. JD Reardons is an informal, fun place and I like meeting clients and friends there. The second courtyard is just the opposite. A very peaceful, wooded area with gas grills and tables which are perfect for a family picnic or just to sit and read a good book.

 

*Prices from $80’s - Studios, 1 and 2 Bedrooms available 
*From ~550 Sq/ft
*Association fee: depends on unit
*Coverage: Trash Pickup, Yard Care, Water, Sewer, Snow Removal, Insurance, Heat
*Features Incl: Secure entrance. beamed ceilings, Exposed Brick, Loft Style, In Unit Washer/Dryer Hookups, Fitness Center, Patio/Deck, Cable Satelite, Roof Top Deck, Salon, Restaurant.

For more information on this or any other downtown Grand Rapids condo, feel free to visiti me online at GRRealEstateInfo.com or send an email.