Seller's Willing to work with you on FHA loan?

Question

For anyone has purchased a property using FHA financing, in your experience are sellers still willing to work with you once they find out your financing is through FHA?

Brent Coombs · Answer

Er, I don't think Max is allowed to use that word on BP...

Brian Nordman · Answer

@Max Tanenbaum What does the F stand for to you?

Brian Nordman · Answer

@Jeff Dulla that is reassuring to hear that! I guess if they really want to sell it they won't turn anyone down even if it means a little extra work!

Jeff Dulla · Answer

@Brian Nordman yes I definitely can. I am also a lender who handles all of IL if you are interested in speaking to me directly. Just PM me with whatever info you would like and I will get it over to you.

Mark Gallagher · Answer

@Brian Nordman

In the end, a seller gets the same green American dollars no matter if the buyer used an FHA loan, a conventional loan, or a loan from their grandmom. If you offer the right terms, and are a solid buyer, any seller should accept your FHA offer. If the lender says it's going to take significantly longer for an FHA loan compared to a conventional loan, they're a bad lender.

Jeff Dulla · Answer

@Brian Nordman - Are you thinking FHA because of limited down payment on a multi-unit?

Matt Horton · Answer

I'm selling to someone who is getting a FHA loan right now. They take about 15 days longer but I'm not passing on a sale.

Jeff Dulla · Answer

Hi Brian,

I can't share personal experience from using FHA financing, but I can give you a lenders point of view.  Sellers can be somewhat leery of FHA financing because normally it takes longer and is more involved than the conventional loan process.  However, as long you work with a lender you trust, that has FHA experience, you should be in good hands.

FHA is a great program, and most sellers are not going to be phased by it.

Jeff Dulla

Seller's Willing to work with you on FHA loan?

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