Is this really a benefit?  I think the "new law will help Floridians buying condos. www.buyfloridare.com to see all condos in SW Florida. Also, it will also help condo sellers get out of their property and perhaps buy a single family home. The largest issue with buyers obtaining an FHA loan for a condo was the requirement of 50% of the specific community being owner occupied, very difficult in Florida especially in Naples and Bonita Springs which have so many snow birds or seasonal visitors. The new law calls for 35%, still may be difficult in some communities but definitely obtainable in most. If you think that it is time ti buy, you are right! With interest rates so low and minimal down payment requirements, those that procrastinate may regret it for years to come. Call me now, I will patiently explain the process and guide you through your first home purchase.