FHA Loan Denied because of the Condition of the Property

[Melvin List]

I see so many deals come across my desk that have been denied on an FHA loan because the property does not meet HUD guidelines. These deals are then restructured using HomePossible or HomeReady conventional and they close with no issues. If you are using an FHA loan your Loan officer should be asking questions about the property before pushing you into an FHA loan. FHA loans are great for lower credit score borrowers or high DTI borrowers but always compare the conventional products when you are shopping around.