Home Buying in Lauderhill>Question Details

Hazel Johnson, Home Buyer in Lauderhill, FL

if a house is going for cash or conventional would they accept fha

Asked by Hazel Johnson, Lauderhill, FL Wed Mar 28, 2012

conventional or cash will somone with an fha loan be qualified

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4
Hello Hazel,

FHA Loans or Federal Housing Administration loans are not a government loan all FHA means is that it is a government insured loan which can be obtained in most cases with 3% down payment. Majority of the time a property listed as CASH or CONVENTIONAL LOAN is because FHA loans have certain requirements that a property has to meet, however there are certain circumstances in which a FHA loan will blanket the cost of a fixer-upper The fixer-upper type loan combines the purchase price of the house and the cost of repairs in one agreement.


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0 votes Thank Flag Link Tue Mar 5, 2013
All markets are different. Here we hardly ever see FHA loans so I never mark FHA as a possible financing option, but if someone is qualified for one and the house can go FHA then the seller could care less what type of loan you have. Just because the listing does not say FHA does not mean much until you find out more to be sure. Have your agent ask.
0 votes Thank Flag Link Wed Mar 28, 2012
Hi Hazel,

If the listing states conventional or cash, the property may not qualify for FHA financing. Have your Realtor contact the listing agent for clarification.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Wed Mar 28, 2012
If it is listed as cash or conventional then you probably won't be able to use FHA but the best thing to do is to have your real estate agent talk to the listing agent of the property that you are interested in and ask them about it.
0 votes Thank Flag Link Wed Mar 28, 2012
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