As for a SFR, virtually every single family residence is available for FHA financing. The rules are not nearly as strict as most agents would lead you to believe and of those properties that need work, FHA 203K rehab financing is available where you can finance the cost to bring the property up to spec.
Congrats on deciding to buy a home of your own!!! You have already being paying a mortgage, by renting from your landlord and providing them the funds to pay their mortgage, now you will be paying your own!!!!
Now, SF homes do not have to be FHA approved. You just have to find a seller wiling to work with a FHA buyer, which most are.
Condos/ Townhome developments are a different story, they do have to be FHA approved.
Go to HUD.GOV from their website you can search for developmenst that are FHA approved. You will need to know the name of the development.
Please note sometimes they will say approvaed but may be expired. If they are expired the HOA has not provided the documents to FHA to renew. In some cases your lender can do this for you if they have a FHA Condo department.
As a first time buyer I would suggest you try SF home first, and avoid the additional HOA fees, which in some developments can be over $300 per month. If you must go condo/towne home I would urge you to choose a PUD townehome. In a PUD towne home you own some of the land your unit is on and will have no one living on top of you or below you:)
Best of Luck to You.
Kawain Payne, Realtor
I can look up which condo will take FHA loans. There has been alot of the FHA complexes not approved. Many of them have expired. I can give you the information tomorrow when I can access the government website for FHA on what is approved and what is not.. This will help you out..
Call or email me so I can forward the information onto you.. Thank You and I look forward to helping you find a place. You may want to interview a few agents to see what they will be doing for you.
Ingrid Ski Realtor
There are many condo available in that price range, Single family homes would be had to come by, depending upon the area.
For a list of homes that would fit you need call 800-316-5913 ext 2501
800-316-5913 ext 2501
If anyone can help I would really appriciate it.
This is Libardo with Kinecta Federal Credit Union, (Hablo EspaÃ±ol).
Esteban we can help you in many ways, if you want FHA we do it for you, we do HomePath (better than FHA when it comes to cost and payments), we also have conventional 3% down (better program than FHA.
Now after all those options, listen we are giving home buyers $500 for closing cost, plus Gold VIP membership for one year with Kinecta!. on top of that you get .625 BPS rate incentive. we guarantee to close your transaction in 30 days or give you back up to $895.
Also we have approve our realtors to work with our clients (worry free).
Please call me to guide you in the right direction
949.8610367 / 562.899.8425
We all want to help you, of course. It would really help us if you could provide more information telling what you really want. To start, make a list of "Needs ans Wants:
How many bedrooms?
How many bathrooms?
Near a certain church or school?
Price range you want to be in?
Then I can do a custom search for you that will make you happy.
Camino Realty Inc
All the best,
J. Mel "Melvis" Jarnagin, Realtor