If you're looking at properties that may need some repair to become habitable (or be allowed to close, in the home's current shape), take a look at some rehab loan options. There's FHA's 203k loan, Fannie Mae also has a couple variations as well.
To avoid copying/pasting a lot of text, just check out this other thread to have your questions answered.
Though townhomes can be FHA financed, this one likely would not have met habitability guidelines because of the condition, damage, mold and (most importantly) lack of of a kitchen.
Neena Vlamis, president of A&N mortgage is my go to lender for questions like this and her recent blog post details habitability requirements:
Neena Vlamis (president)
A & N Mortgage Services, Inc.
Tel: 773-305-LOAN (5626) ext. 104
Hope this helps!
Managing Broker - Chicago Real Estate Artists
Call me @ 312-339-4460
Email me directly at email@example.com
First of all, ALL Townhomes are FHA approved. You only need to ask that question about Condos.
Secondly, if you're a First Time Homebuyer, there is a MUCH BETTER PROGRAM THAN FHA OUT THERE. One that has lower closing costs, lower MI costs, lower monthly payments lower down payment options AND and even Down Payment Assistance.
I'll call you this afternoon to discuss.
Senior Mortgage Consultant