When the selling agents post properties to MLS they must add what types of financing will be accepted. So just ask your agent to only show you properties that have been listed as "accepting FHA offers". Any agent with a few years experience will know how to search them.
Also, consider new construction. FHA is very easy to get accepted for new construction.
And last option. Use a lender that will underwrite your loan before you find the home. Is like having a blank check just waiting to pay for the home when you find it. That will save you many headaches. If this interest you contact me directly and I will tell you which one is now doing it in Florida. Send me a message to AVegaPacheco@aol.com
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I just closed a FHA property with a buyer.
It takes having all the pieces together.
A realtor that picks up phone calls, respects the buying process and a realtor willing to look for you.
Yes the level of inventory is down but you have to react fast as there is competition among buyers.
Feel free to contact me if you need anything.
All the best in your search!!
Pablo Torres, MBA
AF Realty, LLC
Everybody is experiencing this problem right now as the market is depleted, there are not too many properties to buy and the preferred option is full cash or at least conventional with 20% down.
You can definitely get a property though, only a little patience is needed and a seasoned real estate agent who will be guiding you through the process.
If you need assistance please kindly contact me directly at email@example.com I will be happy to help you. I delivered plenty of properties to FHA clients, both resale and new development.
Good luck and I hope you find what you're looking for.
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Senior Loan Officer
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
I'm noticing firsthand that sellers aren't properly informed when it comes to financing options for serious and qualified buyers who may be interested in their property sale. This ultimately leads to canceling out a segment of buyers causing their home to stay on market longer in hopes of a cash buyer or larger down payment.
Cash is king in some areas of South Florida but not all. Be patient you'll find your home!
The usual reason for sellers reluctance is the appraisal process and condition of the home. You will have less flexibility with these.
Conventional financing is likely to do a normal appraisal, and have less concern if a home is a fixer upper.
Be patient, it will happen. Your realtor can also assist with this.