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Rainmaker
400,356
Jill Murty, Realtor - Orange County, CA
Movoto - Laguna Niguel, CA

I've had FHA transactions that have gone brilliantly smooth as well as some that have been difficult and time consuming.  Same for conventional.

I recently had an FHA appraisal come in 66k low on a 400k transaction.  Was it because it was FHA or was it because the appraiser was lazy, didn't know what he was doing or had an agenda?  It's hard to know.

I had an FHA appraisal come in 13k over on a 595k fixer property.

I'm not a huge fan of FHA, but it serves a purpose for buyers who decide it is the best option for them.

May 22, 2015 02:49 AM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

not if the buyer has the right guidance and the mortgage broker is competent....

May 22, 2015 02:23 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Barbara nailed this one!

Jan 02, 2018 03:32 AM
Rainer
5,180
Donna Flaherty
Douglas Elliman Realty - Islip, NY

My client had to go for a HUD 203k (rehab) loan. They qualified for the purchase amount but not for the Reno $$, so had to get a co-signer. The loan officer was totally inept. We were able to get 2 extensions on the contract, got a different Ioan officer & are now headed into the long holiday weekend with no commitment, a contract extension that ended Friday & just don't know where we stand. The stress has been tremendous! The buyer is my niece & her husband & I referred them to the initial loan officer who totally over promised & under delivered. I don't think he had a clue how to package a 203k application.

May 22, 2015 11:26 PM
Rainer
368,326
Raoul Loustaunau
EXP REALTY - Phoenix, AZ
urhomefinder.com myvaluetoday.com

they both have about the same amount of paperwork, overall the conventional loan if the client can qualifies is a much better choice , i am totally against mi for the life of a loan .my opinion only ; thanks Donna have a great day

May 22, 2015 12:52 PM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

FHA loans are one of several offerings that take some special handling. We have Hula Mae and rural loans and others that can be tricky and make FHA look simple. A good loan officer is key for FHA or any of these loans.

May 22, 2015 07:32 AM
Rainmaker
7,836,134
Roy Kelley
Retired - Gaithersburg, MD

No. With experience, FHA tranactions are no more difficult and are not more stressful. 

May 22, 2015 05:40 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

They really don't have to be.  Just need to be prepared for the right forms and disclosures.

May 22, 2015 04:47 AM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Yes and more costs to the buyers.

May 22, 2015 02:15 AM