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Can you purchase a short sale with an fha loan?

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2012-08-14 12:16:02
2012-08-14 12:16:02

Yes, you can purchase a Short Sale with an FHA loan. There are no restrictions on the type of financing in the purchase of a short sale.

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Yes, but the amount of the concession depends on the type of short sale. An FHA Short Sale (under the HUD Pre-foreclosure Sale Program) can include up to a 1% seller concession only if the Buyer is utilizing FHA financing in the purchase. A HAFA Short Sale will allow a seller concession, but the amount depends on the proposed net proceeds to the mortgage servicer.


The FHA programs are a great way to purchase a home,with limited funds or credit. The limits for an FHA loan will vary from state to state as the cost of rea estate changes with location.


When you get an FHA loan it is not funded directly through FHA. FHA is essentially an insurer for loan. So the Mortgage Insurance paid on an FHA loan is an insurance policy for the company giving you the actual loan. Most any bank or lender can give you an FHA loan.


The requirements for an FHA loan can be found here: http://fha.mortgageloanplace.com/fha_who_qualifies.html. Simply fill out a short form and you will be told if you meet the requirements.


FHA stands for Federal Housing Administration. The FHA has several loan options which are mostly used for mortgages. The FHA loan makes it easier for people to qualify for a mortgage.


Yes you can obtain a FHA Loan on a second home as long as you meet the FHA requirements.


One of the benefits of an FHA loan is that the payments are the same for the duration of the loan. One can have a low credit score and still be able to obtain an FHA loan.


Almost anybody can get an FHA loan. There are no income limits the FHA loan is a federal assistance mortgage loan in the United States insured by the Federal Housing Administration.


No, you do not have to be a first time homebuyer to qualify for an FHA loan; however, a first time home buyer is often better suited for a FHA loan as the government insures the loan which gives the buyer a lower interest rate and a lower down payment requirement. You can read more about FHA loans here: http://www.lendingtree.com/mortgage-loans/advice/mortgage-types/fha-loan-eligibility/ Yes, you must be a first time home buyer to qualify for an FHA loan. FHA loans are designed to help first time home buyers to afford their purchase.


Many lenders will not offer a loan if the property is actively being marketed for sale. Some require the property to be off the market for 3 months.


Answering "What should I look for when applying for FHA loan?"


False, An FHA loan is NOT a type of financial aid.


If you're trying to obtain an FHA loan then the answer is 'yes'. If you own an investment property that has an FHA loan, then you can streamline it.


Your first step is to contact your loan officers who should be able to hep with FHA loans. These professionals will help you locate housing that you can afford.


FHA Mortgage Loan CalculatorUse this calculator to determine the maximum FHA mortgage that would be allowed for your home purchase and an estimate of your required downpayment and closing costs. This calculator is designed to determine the mortgage FHA limit for a particular purchase, not the maximum allowed for any home in your state and county. To determine the maximum purchase price for your area you should use https://entp.hud.gov/idapp/html/hicostlook.cfmat the HUD.gov. Then use the calculator below to determine the required downpayment and FHA mortgage limit.-


An FHA loan has more guidelines and rules than a conventional loan does. An FHA loans are only available on certain houses and you can get a conventional loan on any house if your credit meets the requirements.


The federal government administers FHA loans. Any information that you desire to learn about refinancing a government FHA loan can be found on the FHA web site.


An FHA home equity loan differs from a traditional equity loan in that it allows homeowners with bad credit to refinance their mortgage, and can be practical for people wanting to purchase a new home or repair their existing one.


An FHA Loan is a loan from the Federal Housing Administration. It could save you money because it is a loan backed by the US Government, not a profit-making organization, so the interest rates payable are usually low. It also enables you to make a small down-payment - sometimes as low as 3.5% of the purchase price of the property.


An FHA loan is a loan for first time home buyers. HUD has a website where you can talk to FHA housing counselors who will be qualified to answer all your questions regarding an FHA loan (http://portal.hud.gov/hudportal/HUD?src=/i_want_to/talk_to_a_housing_counselor.


HUD prohibits realtors from working on a FHA Loan as an appraiser or loan officer. This only applies to FHA loans


The cost of the FHA Loan depends on what kind of loan you receive. Their down payments do go as low as 3.5%, and they have many options.


You can find information on a FHA home loan refinance online at the FHA website. Once on the site, you can view the requirements and limits of FHA home loans.


A fha loan is a loan that help people to buy there homes at afforable rates prices and they can get them at a low percentage rates on the market for your needs.


It's possible to refinance from an FHA loan to a conventional home loan, but the underwriting guidelines are different. For example, FHA allows a higher loan to value, and a lower credit score to qualify for a mortgage. See: http://www.loandepot.com/LoanOptions/FHA.aspx



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