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Austin McKenzie, Who you work with matters.

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3,141,679
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Connect with a local, experienced lender who can help Austin. It could end up being a long-lasting business relationship!

Apr 07, 2022 06:46 PM
Rainer
420,003
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Calling you it's a long answer

We do singlewide as FHA we will help get the 433A filed if it's not (typical it's not) 

Apr 07, 2022 01:19 PM
Rainmaker
1,209,225
Peter Mohylsky, Destin BeachPro
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

just google the term and it should pop up OR give your favorite lender a call and see what they say

Apr 07, 2022 01:13 PM
Rainmaker
679,404
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Looks to me that you got the Best Advice from all these AR Peers ... contact your favorite Lender and they should be able to give you the information you need.

Apr 07, 2022 08:17 PM
Rainmaker
1,326,624
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Talking to a pro...a lender...would be wise.

Apr 07, 2022 05:09 PM
Rainmaker
853,912
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Ask one of your trusted, local lenders to coffee/breakfast/lunch and learn from them and build a partnership.  

Apr 08, 2022 04:03 AM
Rainmaker
1,507,073
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Your best bet is to contact your favorite lender.  The things I know are it has to be generally in good repair.  No peeling paint, appliances work, that kind of thing.  It's not typically something I focus on because I deal mainly with fix & flips.  The buy side never qualifies for ANY traditional financing, the sell side qualifies for everything.

Apr 07, 2022 04:47 PM
Rainmaker
907,749
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

Your lender would be a great start. Also, speak with an FHA appraiser if it is about the condition. They can tell you what kind of things to look for. To be honest, we see so few FHA loans getting accepted here these days because they can't compete with the other offers. Sad for people who need to use FHA.

Apr 08, 2022 04:58 AM
Rainmaker
7,871,264
Roy Kelley
Retired - Gaithersburg, MD

Your trusted local mortgage loan officer is your best resource for FHA questions.

Houses that qualify for FHA financing.

What kinds of houses qualify for an FHA home loan? The answer may surprise you since many people assume the types of homes they can buy are fully finished, typical suburban home. But you can purchase other types of properties, too. Do you know your options with an FHA loan?

FHA One-Time Close Construction Loans

How would you like to have a house built from the ground up instead of searching for just the right property as an existing construction property? This is possible, even for first-time home buyers, with an FHA One-Time Close construction loan.

This type of home loan may require higher FICO scores (depending on the lender) and may be limited (again, based on lender standards) to single-unit residences. One-Time Close loans require the use of architectural plans, contractors, and other third parties; you will need to plan and budget for these expenses along with the typical home loan costs such as appraisal fees, inspections, etc.

FHA Fixer-Upper Loans

You can ask your participating FHA lender about applying for an FHA 203(k) rehab loan which is also available as a refinance loan. FHA 203(k) mortgages allow you to buy and rehab, or refinance and rehab, a home you want to use or are currently using as your primary residence. 

These loans have no FHA-required FICO score guideline differences than for other loans-that means the same basic financial qualifying criteria will apply for these loans as for new purchase loans for existing construction. That does not mean your lender won’t have additional standards, but that’s one reason why it’s good to shop around for a lender; find one who can work with your financial needs and goals.

FHA Condo Loans

FHA condo loans have some unique requirements, but you can definitely purchase a condo unit in an approved condominium project. Because condo projects will have a Condo Owner’s Association or a similar organization, you will need to read their bylaws and covenants carefully to determine whether that condo is right for you.

FHA Mortgages for Mixed-Use Property

Some homes are zoned residential-only, while others are zoned for mixed use. If the property you want to purchase with an FHA mortgage is primarily residential, and will be used as your primary residence, you may be able to purchase a mixed-use property with an FHA mortgage. 
You cannot buy an investment property (one you don’t intend to live in) with an FHA Single-Family Home Loan, but a mixed use property with at least 51% of the space dedicated to the residence may qualify if it meets FHA and lender standards.

Apr 08, 2022 04:36 AM
Rainmaker
1,555,089
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Ask Jason E. Gordon 

Apr 07, 2022 10:24 PM
Rainmaker
5,246,501
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I would contact a mortgage lender in Florida that funds FHA loans. Joe Petrowski comes to mind.

Apr 08, 2022 04:18 AM
Ambassador
6,425,063
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

May be best to check with an FHA lender to get their opinion on the property.

Apr 08, 2022 12:50 AM
Ambassador
3,350,719
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

I recommend you work with a lender well-versed in FHA.  Believe me, there are some lenders that will say they know FHA and they do not.  Beware out there! 

Here you go:  2022 FHA Loan Requierments

 

Apr 08, 2022 07:59 AM
Rainmaker
1,847,781
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Better get a lender to start a relationship with. Reading the guidelines will really do nothing for your listing.

Apr 08, 2022 06:13 AM
Ambassador
1,078,451
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

https://www.hud.gov/program_offices/housing/sfh/handbook_4000-1

 

You'll probably have a tough time wading through the actual handbook - if you have specific questions or concerns on the property, I could probably help a little easier as there are some common pitfalls and FAQs I know off the top of my head.  Feel free to call me 484-680-4852 to discuss if you need some specific guidance.

 

 

Apr 08, 2022 12:25 PM
Rainmaker
1,202,697
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

I like Roy Kelley's answer the best but you received good responses from others

Apr 08, 2022 10:52 AM
Ambassador
3,168,134
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I talk with a local FHA appraiser for that.  I have also on occasion paid him to go by and check out the listing to let me know if it's "all good" for FHA.

Apr 08, 2022 07:57 AM
Rainmaker
766,969
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

A lender will be able to provide you with a link to them or you can go to the HUD site.

Apr 08, 2022 07:35 AM
Rainmaker
5,879,816
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

The FHA website may give you some answers, but a local lender would be a good idea too.

Apr 08, 2022 06:26 AM