Most of the time in GA, our bank owned property says "Cash and Conventional" only. Some banks want the buyer pre-approved through them as well.

Most banks will let you know what type of finacing they will accept on a particular property - based off of the condition of the property. A distressed property will have more trouble getting approved to go FHA or VA, however, there are some FHA loan products that are "rehab" loans (HUD 403k), consult a local loan officer who is familiar with these products to find more information.

Some banks will offer some sort of "express path" financing if you finance through them to purchase the property as well, again, check with the agent listing the home or the bank directly, if it is not currently listed.

I hope this helps.

The banks accept most types of loans. As Donna mentioned most require a prequalification or preapproval letter with the offer or financial statment to prove credit worthiness. The stronger buyer you present to the bank the better your chances at getting the property.

Good Luck.

You can use any kind of loan out there as long as you qualify for the loan and the property qualifies for the loan. Bank owned properties almost always require a preapproval letter from the lender. If the property is in questionable shape you would probably have to pay cash or get a conventional loan product.

Typically you can use any type of financing you qualify for. The exception might be if the home needs repairs. Some loans might require that the repairs be completed before the loan is closed. You should discuss this with your loan officer first. There may be some loans that also allow for repairs such as the HUD 403k loans. Make sure your loan officer is experienced doing this loans though. If not get them to refer you to someone who is. They can be tricky to complete for the novice.

Vicki, you certainly can use any so called conventional loan, unless a bank has specific requirements. I don't believe that is often the case. More likely a bank might require a minimum down payment.