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!
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.
Thanks for the info!
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.
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.