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FHA requirements?

Will a home that has no stove, no dishwasher & no sinks in the bathrooms & no water fixtures (faucets and shower heads) go fha?
  • June 26 2009 - Ahwatukee Foothills
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Answers (3)

If you close with FHA financing you will need a stove, sinks, and water fixtures.  Anything that affects the health and saftey of a home will be noted by the FHA appraiser and needs to be repared prior to closing.  On top of FHA requirements, anything that affects the lender's ability to re-market that home will also need to be repaired.  Things like exposed wires, missing lighting fixtures, missing carpet, ... are common in foreclosed homes but need to be remedied prior to close.   I would be suprised to find a lender that did not require these repairs in Arizona  as we are one of the top four default states. AZ lenders already have too many REO properties that must be sold at auction because of neglect or vandalisim, and some lenders have their own requirements on top of FHA guidelines to make sure the new homeowner is set up for success in that home.  There is a FHA 203k repair program that was designed to assist buyers with repairs.
  • June 28 2009
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Yes you can obtain an FHA loan on this property.  The fixtures of a property does not qualify or disqualify a property from a certain mortgage product.  FHA is mainly concerned with the structure and plumbing operations of a property.  For more details checkout hud.gov.
  • June 26 2009
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Sounds like you are looking at a foreclosure that the previous owner took out their frustrations on. It also sounds as if you haven't talked to a lender yet. In today's market the first thing you want to do is choose the people you are going to work with, the lender, Realtor, and others you need. They can guide you as to what you can afford, and help find the right property. There are some loans that may include the price of repairs needed but they can be difficult to obtain and there will be an extra cost. Speak to a lender or a few to see what products they offer.
  • June 26 2009
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