I wasn't sure about the answer to this one, so I pitched it to one of my mortgage experts Leslie Blanco Ishoo of Bank of America. She said it is possible because the status of property does not impact loan program as long as you meet the SONYMA guidelines.
If you want to speak with Leslie directly for additional questions... AskRey.
Rey Hollingsworth Falu
Licensed Associate Real Estate Broker
Houlihan Lawrence - Bronxville