Do FHA loans allow for spring water drinking water sources versus well? Does anyone know what lenders will allow for spring water (not well) drinking?

Asked by Marion, Canonsburg, PA Wed Jul 14, 2010

water sources? Thanks for the help!

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12
Rudy McDowell, Mortgage Broker Or Lender, Bloomfield Hills, MI
Wed Jul 14, 2010
Hi, Marion

So long as your well is properly connected, and has been properly maintanined and tested, you should be fine. Talk to your local lender to determine what required to sartisfy these conditions.
1 vote
Dave Griswol…, Agent, Bridgewater, NJ
Wed Jul 14, 2010
HI Marion, Usually there is well testing to make sure the water is drinkable. We know of a few under ground springs and the same rule applies. In NJ in most cases the Seller preforms the test prior to closing.
Our own house failed the test. we had a water purifier installed at sellers expense before we closed on our property.

FHA requires that your plumbing,heating,electric, roof and basement meet the guidelines. We should think that spring or well won't matter unless it not properly connected.
To be sure ask a mortgage representive, they will be able to provide the correct information for your state.

All the Very Best
Dave & Lisa
Web Reference:  http://www.urhomerealty.net
1 vote
Gary.theante…, Home Buyer, Washington, PA
Thu Aug 25, 2016
It seems like idiotic hair-splitting since a well is nothing more than an underground spring.
0 votes
Gary.theante…, Home Buyer, Washington, PA
Thu Aug 25, 2016
It seems like idiotic hair-splitting since a well is nothing more than an underground spring.
0 votes
Gary.theante…, Home Buyer, Washington, PA
Thu Aug 25, 2016
It seems like idiotic hair-splitting since a well is nothing more than an underground spring.
0 votes
Dfranks, Home Buyer, Washington, PA
Thu May 7, 2015
I am in the process of trying to purchase a home in Tennessee. Problem is that it has Spring water. It has passed all testing. I am being told that no secondary lender will approve homes with spring water. And that conventional loans require as much as 20% down? Anyone know of any other options? I can afford 5% or maybe even 10% down. Or would it be an option if I establish well water?
Thanks
0 votes
Tanya Rhody, Agent, Washington, PA
Sat May 10, 2014
A conventional loan is requires. They have 5% down loans with 3% seller assist. Try calling Tim Morrell with West Penn Financial. 412-997-2287. He has been doing it for 25+ years and is one of the best.
0 votes
SilverTreeAr…, Home Seller, Port Monmouth, NJ
Thu Mar 27, 2014
We are angry that the bank didn't tell us this FHA rule first before we paid for the home inspection and then the appraisal! What a waste of money! First Federal.
0 votes
SilverTreeAr…, Home Seller, Port Monmouth, NJ
Thu Mar 27, 2014
Must have a well, even if you have spring fed water. The appraisal noted this on a home we are trying to buy.
0 votes
SilverTreeAr…, Home Seller, Port Monmouth, NJ
Thu Mar 27, 2014
I was told by an appraiser that spring fed is not approved. There must be a well.
0 votes
Jereibold, Home Buyer, North Jackson, OH
Tue Oct 12, 2010
YEs it does matter! the home we are trying ot buy has a pond which is spring fed, 7 natural springs to be exact. After 2 months of trying to close, HUD, FHA informs us that it is not allowed! You HAVE to have a well or city water!
0 votes
C2 Financial…, Mortgage Broker Or Lender, San Diego, CA
Wed Jul 14, 2010
That shouldn't be a problem as long as the connections are up to code and that the well test results come out satisfactory. FHA definitely makes sure the appraiser has inspected the home and they will note on the appraisal report if there are any corrections to be made in regards to health & safety items.
0 votes
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