Homepath/FHA Financing

I came across a 1 bed condo for sale. It is listed for $24k. FHA financing is available. How do I get approved for it? My last 2 years for tax returns were under $18k. I was unemployed at one point. But my FICO score is over 700. Please help!

Comments(4)

  • cjmazur29th July, 2009

    Call any bank or mortgage broker just like any other deal..

    Ea. bank/broker has their own list of fannie/freddie and FHA loans they will write

    I have search loan and hard for some that will do a Fannie "my community mortgage" loan a the conforming jumbo amount (620K-720K).

    700 is a strong fico.

  • NATIKABETHEL29th July, 2009

    Thanks for the info!

  • real_estate_now31st July, 2009

    Some of the FHA loans are for owner-occupied only. Make sure you will be occupying as I have heard they do check if you are "owner occupying".

    Get a list of FHA lenders from www.hud.gov.

    Good luck and report back to us so we know what is going on.

  • NewKidInTown312th August, 2009

    Quote:
    On 2009-07-29 10:40, NATIKABETHEL wrote:
    I came across a 1 bed condo for sale. It is listed for $24k. FHA financing is available. How do I get approved for it? If this is a HUD forecloseure property, then you can use HUD financing as an investor if you put 25% down. Most federally chartered banks will do HUD financing.

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