question about buying a home with fha loan

Joe
Home Buyer
Illinois

the home i really want says conventional loan only but it also has not been inspected before it was put up on market, if i was to have it inspected and it passes would i be able to use the fha loan to purchase it

Answers (4)
First to answer: Julie
Greg Zaccagni
Agent
Illinois

Joe:

While your agent is speaking to the listing agent they may also want to ask about seller concessions. If they did check the box intentionally perhaps they are trying to avoid them which would be a mistake in this market as they are unlikely to receive a full price offer regardless what loan program their buyers use.

Fri Jun 20 2008, 07:44
Eric Marcus
Agent
Chicago, IL

If the property is a condominium it may not be eligible for FHA financing. If the condominium association has "right of first refusal" it most likely will not qualify for FHA financing. There is a good chance, however, that the listing agent did not check all the boxes in the MLS that he/she could have and one of the financing options would have been FHA. Contact the listing broker or have your agent contact the listing broker. Best of luck!

Web Reference: http://www.esmrealty.com
Thu Jun 19 2008, 15:40
Brandon Schuppe
Agent
Westchester, IL

Joe,
It may be a typo. Some home owners do get alittle freaked out about FHA because they have this old thought that they're going to have to make repairs to the house. Becareful, because if they're really adamant about not wanting FHA they may have something to hide. Just a thought.

Thu Jun 19 2008, 08:34
Julie
Agent
Buffalo, NY
FIRST ANSWER

Ask your agent to call the lister and find out why it says conventional only.

Wed Jun 18 2008, 18:07

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