First time with FHA

[Zoe]

Oh no, my question is directed at the pics v. FHA appraisal / inspection.

203K loans operate differently than a regular FHA mortgage loan. Your loan officer and/or FHA are the best ones to ask your questions. Your loan officer likely knows the answer. Anybody can contact HUD for FHA questions also.

 

[OV79]

I don't think I'm asking correctly. Ignoring the 203k loan, will a regular FHA appraisal fail with the pictures provided.

 

[Tom D]

If it's a rehab or major remod where will they live during that process, since they live there already.

The minutia being asked of the what will go FHA, or not, will be the journey of the appraiser who actually see this house, not us.

 

[Zoe]

If it's a rehab or major remod where will they live during that process, since they live there already.

The minutia being asked of the what will go FHA, or not, will be the journey of the appraiser who actually see this house, not us.

The loan officer will likely already know before they order the appraisal if the OP will share everything with the loan officer. The lender don't have to go FHA. They can do it inhouse loan if they choose.

They can do conventional loan in house if they choose to.

 

[OV79]

The loan officer will likely already know before they order the appraisal if the OP will share everything with the loan officer. The lender don't have to go FHA. They can do it inhouse loan if they choose.

They can do conventional loan in house if they choose to.

FHA is the only thing we qualify for.

 

[Zoe]

Another thought is since the seller is a relative, have you thought about seller financing? Ask the owner if they will finance it for you.

 

[OV79]

If it's a rehab or major remod where will they live during that process, since they live there already.

The minutia being asked of the what will go FHA, or not, will be the journey of the appraiser who actually see this house, not us.

Fair. I'm just looking for "stuff I can fix" before he or she arrives.

 

[OV79]

Another thought is since the seller is a relative, have you thought about seller financing?

Cannot. It is collateral to the state for her old mother.

 

[Zoe]

Cannot. It is collateral to the state for her old mother.

Well sir, if your loan officer can't work it out, you may have to move. I know you don't want to hear that. Don't tell your wife I said it either.

 

[Zoe]

I understand now. The State is basically the seller on the house you live in.

Does the State have any special loan programs that might help?