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Where can i find out if a home is FHA approved in Illinois? Aside from asking an agent.

I need to find out if a few homes are FHA approved.  Is there a site or place that i can access this type of info??
  • September 07 2009 - Chicago
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Answers (17)

The only way to know that is by doing an appraisal. Just some rules of thumb: House is in liveable condition. Appliances, A/C, water equipment, etc will need to be in place and good working order. Also, you cant have exposed wiring. Wires would have to be capped off before the appraiser goes out.
  • December 18 2013
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The simplest way would be to go to HUD.gov and look for HUD approved properties under the resources tab. But may I ask why you would limit yourself to only FHA approved properties when conventional financing allows for the same low down payment options? As you can tell going FHA limits the properties you're able to purchase. If you go conventionally you can still place between 3% and 5% down an look at all properties. Don't limit yourself. Go conventional. You can thank me later.

Let me know if you have questions.
  • December 17 2013
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A large part of FHA approval depends on the physical condition of the home - it's an individual decision and is generally in the hands of the appraiser - you can't get a blanket ok like you might with USDA
  • December 16 2013
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  • December 16 2013
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Each home has to be assessed, individually, as to whether or not it meets the HUD Minimum Property Standards.
This determination is the Appraiser's obligation.
  • December 12 2013
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If the home is in a neighborhood and has a Homeowners Association, ask them.
  • December 12 2013
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Profile picture for karla293
my bf wants to refinance his home with a fsa loan... the loan company sent out and appraiser who got lost and called my bf  asking why he not answering the door... because she was too stupid to notice what the correct address was on the paper she had.. so by the time she found the correct place.. she got out of the car and said our place will not qualify for a fha so.. can you tell me how the heck she knew it didnt.. just from looking outside of her car and not even looking?   we had brand new roof put on this year.. and all windows are new. so how could she tell by looking at the outside?
  • December 12 2013
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  • September 25 2013
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  • September 13 2013
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Hello there,
    In St Petersburg fl, There is no site that will let you know if a Single Family Home qualify's, but most qualify as long as there are no major repairs needed to be performed. If there are repairs that need to be performed, it would have to happen before the closing of the loan.  I would check with hud.gov and work with a Realtor.  To qualify for a FHA loan, Roof, Foundation, structure and windows all need to work in order for it to pass FHA standards.  Guidelines are built to protect the buyer, Foreclosures can be tricky as there is no seller's disclosure, so you would not know of a problem unless the inspector catches it. 
Let me know if you have any other questions.

Alberto Medrano, Keller Williams Real Estate
  • September 09 2013
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There is no website to qualify detached single family homes as "FHA approved" - realtors in today's market can let you know the changing guidelines - WHICH CHANGE EVERY WEEK.  It would be in your best interest to work with a real estate professional; otherwise you're left to the mercy of the every changing inaccurate information found on the internet.
  • September 28 2009
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Actually the maximum loan amount for an FHA loan varies from county to county.  In most of the counties near Chicago the maximum loan amount for a single unit is $410,000.  However to know exactly what the maximum in your county go to hud.gov.
  • September 25 2009
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Single family homes do not have to be specifically approved by FHA. Condos do. Here is the link to approved condos. I suggest searching by city, as not all of the approved buildings have been classified by zip code.

https://entp.hud.gov/idapp/html/condlook.cfm


The maximum FHA loan amount in IL is $410,000.

Good luck!

Michael
  • September 09 2009
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Most homes are FHA eligible. Condos need to be preapproved. Also the loan must be less than $417,000 (Jumbo). Only property condition they still worry about is lead based paint. FHA doesn't make the loan they only guaranty it for the lender.
  • September 08 2009
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There is no site.  I would recommend choosing an experienced REA that can look at the property and inform you of the potential issues.  You will not definitavely until the appraiser's inspection.
  • September 07 2009
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The condition of the property can determine if it will qualify for FHA or not.  If the house is in bad shape, FHA will require the repairs to be made prior to closing.  These guidelines are in place to protect the buyer.  Usually the listing agent can tell you if a property can go FHA or not.
  • September 07 2009
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Jeflo, can you be more specific?  Are you talking about bank owned properties for sale and wondering if the bank will accept offers with FHA financing?  Or are you talking about condominiums and if they are FHA approved projects?
  • September 07 2009
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