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How can I know if a house will qualify for an FHA loan in either Massachusetts or Rhode Island ?

  • May 23 2012 - Woonsocket
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Answers (3)

Profile picture for Bruce Cadden

Single family, multifamily, approved condominiums, modular, and mobile homes are all eligible. Generally, if a property will qualify for a regular mortgage, it will qualify for an FHA loan. The FHA/HUD does have limits on how much to loan for different properties, which is determined by county. I know that in RI, all counties are the same, but there can be a big difference in MA. 

  • May 23 2012
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Profile picture for cjcsellshomes
Good Afternoon,

Whether a home "qualifies" for FHA financing is based on housing standards that appraisers use.  Most of these standards are safety type concerns such as peeling or chipping paint, mold....etc and even down to simple things such as outlet covers on outlets.  A lot of times some things stick right out and most agents have a pretty good idea by showing a home, but it comes down to the opinions of appraisers in many cases.

I hope this helps, and Happy Hunting.  Let me know if you would like to learn more about searching for your home.

Chris
  • May 23 2012
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Profile picture for B Mike West
Contact a local Realtor and ask them about the property.  Safety and security issues are a major concern for FHA underwriters.  All appliences must be in place and working.
  • May 23 2012
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