Dee Nofziger's Q&A

Hi! Good question, although there's not a real easy answer. If the search program you are using has a "terms" option, then it mostly likely will have FHA as one of those options. If not, then you can contact a local realtor to ask you to search the MLS for any properties that have FHA under the "Terms" category.The big problem though, is that many agents list properties as FHA Terms, along with cash and conventional, but don't realize that FHA is more than a type of financing. FHA actually means that it is insured by the Federal Housing Authority and that they require the property to be able to pass an FHA inspection. Inspection criteria is changing on a daily basis right now, but the big things to look for are 1. no peeling paint anywhere. 2. windows need to open 3. roof doesn't need to be replaced within 2-3 years. 4. Furnace doesn't need to be replaced within 2-3 years. 5. Mold and mildew is a HUGE no-no. 6. floor coverings intact. 7. Well, you get the picture.You can ask the seller after an inspection to do any needed repairs. Some will, some won't. Or sometimes you can ask to escrow money at closing to pay for repairs.Hope this helps.Dee Nofziger