Home Buying in San Francisco>Question Details

Jackalope, Home Buyer in San Francisco, CA

What are sellers' general reactions to an FHA loan in the $400 - $450K price range?

Asked by Jackalope, San Francisco, CA Fri Apr 11, 2008

Either condo or a small SFH in Daly City/South SF/Pacifica, etc. My search MUST stay on the Peninsula and although there are lovely parts of the East Bay/Marin, etc., I cannot buy there due to my daughter's school location and promimity to her dad.


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FHA loans. The only issue I visualise is the long closing period. FHA loan takes longer, a seller may want to close sooner. In a slow market where the properties are on the market for longer durations and not much buying activity, a seller may want to consider a buyer with a FHA loan. Other than the closeing period there should be no major issues with a seller. You need to consult with lenders who are quialified to do do FHA loans.
0 votes Thank Flag Link Sat Apr 12, 2008
Hi Jackalope,

It depends on whether the property is bank owned or being sold by a private party. Private sellers might be a little reluctant and their reaction would depend on what type of competition you are facing. For a single family house most of the properties in your range are probably going to be bank owned. They are looking to sell as quickly as possible; so you will probably be fine. I am actually waiting on a bank response to a similar loan program. I could let you know what type of reaction you are facing this week if you are interested.
Web Reference: http://www.star-sf.com
0 votes Thank Flag Link Sat Apr 12, 2008
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