If your buying a property that is a reo that is in rough shape you will need to use the lenders financing (if available) or fha 203 k plan , cash or a construction loan which will require a higher down payment.
Lastly if it is a REO that is not in bad shape than FHA or a conventional loan should do it.
First Weber Group
Certified Distressed PRoperty
Getting a true qualification on a mortgage can take some time. So locate a lender first and to save yourself some headaches get pre-approved not just pre-qualified.
So I am presuming from the question that you want to bid on a home at a foreclosure auction.
The answer is YES. You can obtain financing prior to the auction through a lender of your choice, or when the auction takes place there are lenders available to you.
Here is the caveat of purchasing a foreclosed home at the Auction. You have to have your home inspection prior to the auction. You cannot have it after.
So, if I were you, this is what I would do. Contact my lender and see how much I am qualified for. Contact my agent to help you find a property in that price range. Visit that property when there is an open house. If you like the property, make arrangements to have the home inspection done. This will tell you the good, the bad and the ugly. From that home inspection I woudl determine if I wanted to proceed in purchasing the property at the auction. If so, you need to register to attend the auction if being held in person. Not all auctions are in person.
I've had several properties go to auction.