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FHA Loans

Do any of the properties on Zillow take FHA loans?

  • May 29 2014 - Lakewood
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Answers (4)

user9526812, contact Nic to review the Pro's & Cons of using an FHA loan. He is located in CO, you can email or call him from his Zillow profile page. 
  • May 31 2014
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Profile picture for USMortgageRanger
Most homes will qualify for FHA financing are already approved for an FHA home loan. ? It may seem backwards to shop for a mortgage before you shop for the house, but there are several reasons for doing this. Shopping for a mortgage will also help if you can get "pre-approved" for the amount you'd like to borrow. This means the lender has looked over your credit and financial statement and agreed to lend you the money. Sellers like pre-approved buyers because there's less risk the deal won't go through. First, you'll find out how much you can borrow, which has a lot to do with how much house you can buy. 
  • May 30 2014
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Profile picture for davidhawke
The only exception to this rule is condominiums (or town homes technically categorized as a condo). 

 Condo complexes can easily lose their FHA eligibility for a number of reasons, such as:
-Too many renters vs owners occupying the units in the complex 
-Lawsuit between the HOA and the builder over structural defects in the complex
-HOA's with poorly managed finances
-HOA's with too many owners delinquent on their HOA dues.
etc, etc, etc. 

So, always have your agent make sure that a condo you're interested in is FHA eligible, before getting too excited about the unit.  Any good agent, or lender should be able to tell if a complex is FHA eligible.

 
 
  • May 29 2014
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The majority of homes on the market will be fine having FHA financing on them. Things to watch out for when writing a possible offer on a home with FHA financing would be the condition. Roof issues, peeling paint, lack of handrails on stairs etc are a few of the most prevalent that come up.

If you have questions regarding specific properties and if they would have issues with FHA financing feel free to send me a message and we'd be glad to help.
  • May 29 2014
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