Home Buying in Miami>Question Details

Tatiana Capi…, Home Buyer in Miami, FL

How to find sellers that will accept FHA financing?

Asked by Tatiana Capitan, Miami, FL Thu Aug 15, 2013

I'm currently looking for homes but am not having much luck since apparently a lot of sellers won't accept FHA financing...and it's stressing me out!

Help the community by answering this question:


Try not to get stressed out. Nothing worth gaining is ever easy to acquire. Good luck
0 votes Thank Flag Link Thu Aug 15, 2013
thank you...most of my stress stems from the fact that my current lease is about to expire. When we started looking for homes my realtor gave me hope and confidence that we'd have something by now, which hasn't happened. so now I'm going to have to go month to month, which is $250 more than my regular rent price, which is fine if we find a home and are moved in within the next three months because it would be cheaper than renewing the lease and then having to break it...but if we don't have a home in the next three months, that's about $750 down the drain.
Flag Fri Aug 16, 2013

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
Was this answer helpful? If so please click on "best answer " or the "green thumbs up".

Tony Vega
Antonelli Realty
0 votes Thank Flag Link Thu Aug 15, 2013
Hello Tatiana,

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!!

Cordially yours,

Pablo Torres, MBA
AF Realty, LLC
0 votes Thank Flag Link Thu Aug 15, 2013
Dear Tatiana,

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 meg@viviendarealtors.com I will be happy to help you. I delivered plenty of properties to FHA clients, both resale and new development.
0 votes Thank Flag Link Thu Aug 15, 2013
Tatiana, I personally hate it when a seller, better yet a Realtor advice their seller against FHA financing. Appraisal requirements are almost identical and a buyer must credit and income qualify for FHA just as they do for Conventional. It's pure ignorance in my opinion.

Good luck and I hope you find what you're looking for.

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
NMLS #23130
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
0 votes Thank Flag Link Thu Aug 15, 2013
Hi Tatiana! Thanks for your inquiry. Yes you are correct many sellers have opted to forgo FHA financing for a number of reasons. However that doesn't mean all hope is lost. Sometimes it's as simple as adjusting your criteria, ie, price, areas, finance terms, etc. and having a knowledgable team of professionals who can put the deal together.

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!

Andre Shambley
0 votes Thank Flag Link Thu Aug 15, 2013
When properties are posted to MLS, they list what type of financing they can accept. Your Realtor can help you with that. If you would like me to help, you can call me at 561 401 6205.
0 votes Thank Flag Link Thu Aug 15, 2013
New construction, don't stress yourself a minute longer. Email me for great incentives on financing a new construction through the FHA program.
0 votes Thank Flag Link Thu Aug 15, 2013
This is always a challenge - but the first answer is putting more money down. There are many conventional financing programs that allow 5% instead of the 3.5% of FHA, these do not have the same appraisal requirements, etc.

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.
0 votes Thank Flag Link Thu Aug 15, 2013
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