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Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Desmond. Most of them go just fine, but if the LO isn't knowledgeable, every loan is a problem.

Mar 23, 2016 06:50 PM
Bill Dandridge
MKB, Realtors - Roanoke, VA
GREEN, ABR, GRI, EcoBroker

Just that the home insepction will be more stringent that if on a conventional loan. For instance, all stairs with three of more steps need to have a railing.

Mar 23, 2016 12:44 PM
Vera Gonzalez
RE/MAX Suburban, Inc. - Sterling Heights, MI
Gonzo For Real Estate

A check for you seller in the end will be the same. The big awareness should be if there are repairs. 

Mar 23, 2016 12:38 PM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

I just want to make sure the appraisal comes in, because if it doesn't, we are going to be cutting out a large portion of the buyer pool since the value sticks with the property.

Mar 23, 2016 12:15 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

When i list home, i go through it with the seller before showings even start to know if that home can or cant go fha. If not, will teh seller bring it up to par? if not no fha. 

Mar 23, 2016 10:20 PM
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

FHA isn't as bad as many agents make it out to be. If house is priced rignt and in decent condition, FHA financing should work.

Mar 23, 2016 10:13 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

If the property is in good shape, no problem!

Mar 23, 2016 09:21 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

If it is a condo I make sure it is on the approved list.

Mar 23, 2016 09:21 PM
Toronto, ON

I don't see any lightbulbs in such a situation since FHA loans are not offered in our great land.

Mar 23, 2016 08:20 PM
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Know if your property has any issues that don't meet FHA criteria. Same for VA and some other loan programs. they each have some items that can nix the funding. Discover those early and they can often be remedied.

Mar 23, 2016 06:49 PM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I do not mind if the property is FHA approved. If there is no better offer and the property appraised accordingly, we are good. 

Mar 23, 2016 06:41 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

 I think it has to do a lot with the lender you're dealing with ....

Mar 23, 2016 03:46 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Desmond Neoh - all loans that can close for your listings ARE good. FHA are little more strict for home inspection, I believe.

And for condos - FHA approval is a requirement.


Mar 23, 2016 03:31 PM
Jill Murty, Realtor - Orange County, CA
Movoto - Laguna Niguel, CA

FHA loans are usually not problematic, but the appraisal can be.  

If the property fails to appraise, an FHA buyer is not likely to have the funds to make up an appraisal deficit or even meet in the middle.

Additionally, the FHA case number is married to that property and so is the value that appraiser comes up with even if it's clearly flawed.  The FHA appraisal would apply to a new FHA buyer.

The appraiser may submit a list of FHA required repairs.  The list, if there is one, is most often reasonable and on rare occasions outrageous.  In my career, I've had one outrageous list and three bad appraisals, two of which were in the last year.

Most FHA transactions are good, but when they're bad, they're pretty bad. 

Mar 23, 2016 01:20 PM
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

If it's a site built home in decent condition that appaises . . . all good. Manufactured homes need engineering certs.

Mar 23, 2016 01:09 PM
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Great answers you got. 

Best of luck.

Dec 03, 2019 05:47 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I see few advantages.

Jun 19, 2019 08:27 PM
Mimi Foster
Falcon Property Company - Colorado Springs, CO
Voted Colorado Springs Best Realtor

I always groan when I see an FHA offer. I don't know how it is in the rest of the country, but here the appraisers/appraisals are difficult to get through, no matter how well priced the property is.

Mar 26, 2016 08:55 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

You have to be sure there are no FHA issues for the appraiser to find - peeling/chipped paint, exposed electrical outlets, extensions for the gutters.

Mar 25, 2016 03:58 AM
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

If a home has a ton of deferred maintenance, peeling paint, stairs missing railings, or other safety hazards, that's the "no go" zone for FHA.  Aside from that, as long as a property is FHA-eligible, there should be no "lightbulbs" or red flags ---- FHA is a great program that unfortunately gets a bad rep.

Mar 24, 2016 06:24 AM
Roy Kelley
Retired - Gaithersburg, MD

FHA financing is a blessing for the families that need it. A good agent and a good mortgage loan officer will make the transactions successful.

Mar 24, 2016 12:13 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

They go by guidelines i.e. a Gov check-off list that determines eligibility. Smoke alarms, co2 detectors, functional appliances, no in your face repairs. Generally a good first impression passes with no problem. Ck guidelines

Mar 23, 2016 11:42 PM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

No lightbulb.  Verify details of "pre-qual" with the Buyers Lender.  Seller decides.  If proceeds - and FHA appraisal (inspection) finds things to repair - negotiate with Buyer - if it doesn't work out - move on to another Buyer with copy of the FHA appraisal (inspection) in hand - and disclose in contract what won't be repaired.  End of story.

Mar 23, 2016 11:36 PM
Susan Laxson CRS
Palm Properties - La Quinta, CA
Realtor in San Diego, CA & Naples, FL

Usually as smooth as any other loan, depending on the lender and appraisal.

Mar 23, 2016 10:52 PM
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Concerns with FHA

How much skin does buyer have in the game?

Are any concerns present in the house that FHA will make a issue?

Closing costs deferred to seller.

Historic record.

Limits on 'out-side' money.

All things equal, FHA will lose.

If FHA is the only player at the time, you play the cards you have.

Mar 23, 2016 10:43 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I don't see red flags with FHA loans... especially if I know who the buyer's lender is. In certain price points, I expect that a big percentage of buyers will be doing FHA.

Mar 23, 2016 10:26 PM
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 FHA is in their own world when comes to inspections. I often ask are they getting FHA or conventional loans. FHA requires things that conventional does not.

Mar 23, 2016 07:27 PM
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Depends on the condition of the property and if there are competing offers.  Sometimes that FHA offer looks like gold.

Mar 23, 2016 03:13 PM
Compass - La Jolla, CA
San Diego Partner - The Private Client Network

if it's a flip there could be an issue dependant on percentage of new price versus old closing price.

Mar 23, 2016 01:49 PM
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

I immediately think of peeling paint, broken windows and a new roof.

Mar 23, 2016 01:13 PM
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

We are having a lunch and learn at our office to discuss this very soon. For buyers and sellers we need to be aware of this information.

Mar 23, 2016 12:48 PM