Posted on: 17th Jul, 2013 12:34 am
I am planning to get a FHA loan to buy a property. Recently, I came to know that the complex is not FHA approved per HOA. I already have an FHA approval. What does this whole thing mean?
Though you are approved for the FHA loan, the complex or the property does not meet the required criteria of the FHA lender. Thus, you cannot buy a property in that complex with a FHA loan.
Hi Pearla!
Welcome to the forums!
I agree with what Niicss has said. Not all properties get qualified for FHA loan. Unless the criteria regarding properties are met, FHA lenders may not give the loan irrespective whether or not you were approved.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
I agree with what Niicss has said. Not all properties get qualified for FHA loan. Unless the criteria regarding properties are met, FHA lenders may not give the loan irrespective whether or not you were approved.
Feel free to ask if you've further queries.
Sussane