Townhome complexes in Orem Likely Approved for FHA Financing

Townhome or Townhouse complexes can either be owned as Condominiums or as a Planned Unit Development (PUD). The fact that it has a Homeowners Association is not the distinguishing factor but rather, how it is recorded at the County Assessor’s office.

Condominium – Individual ownership is of the inside of the unit only. The ground and all common areas are jointly owned by all owners within the complex/development.

Townhome – Individual ownership is of the unit including the ground it sits on, the walls, and typically the roof. There are no other units above or below your individual unit. The common areas are jointly owned by all owners within the complex/development.

Orem Townhouse – PUD Developments