Question by Amy S: can you tell me why a house id like to purchase doesn qualify for the loan i have?
I have an FHA loan and ive finally found the house of my dreams, well it will be with a little TLC. My agent told me this house doesn’t qualify for an FHA loan and id have to go with a conventional loan. Which was ok but I had planned on using that money id be saving from a 20% down payment to 3% with FHA to fix up the place. Is there rules about the age of homes?
Best answer:
Answer by phillyb007
The house need to meet FHA guidelines. Home that are FHA approved must past their inspections. You can ask seller to get approved or move on.
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