Second, there are 3 major groups of financing: Conventional, FHA, and VA. Often sellers will decide which types of financing they will consider. If your credit score limits you to FHA then some homes may not be eligible for you to purchase.
Last, just because they say they don't accept certain financing options always have your REALTOR ask the listing agent to speak with the seller.
Again, I would contact a lender first, find out what you qualify for then find out if any of the homes you're interested in won't accept your financing.
**One more thing... Often, but not always, foreclosed properties are distressed and certain lenders won't lend money on a high risk property. They are investing in you and the home you're purchasing.
If you would like further assistance please feel free to call me anytime at 630-492-1284 or email me at EricHallRealEstate@gmail.com
Jennifer Leonard-Biddle 630-464-4230
Baird & Warner Fox Valley
The question is will the house qualify for FHA.
Contact a buyer broker and a mortgage broker for full details on your situation.