If you're in the market to buy a duplex or similar multi-unit property, you may be wondering whether you can use an FHA loan to finance your purchase. FHA loans are well-known for helping first-time homebuyers, but they can also be used to purchase duplexes. Here's everything you need to know about FHA loans, how they work, and whether they're a good fit for your homebuying plans. What is an FHA Loan?An FHA loan is a mortgage insured by the Federal Housing Administration, designed to make … [Read more...]
What Are The Requirements To Sell A Home Using An FHA Loan?
Before an owner can market a property to buyers that want to use a FHA loan, he will want to familiarize himself with the FHA's standards. FHA won't insure loans on just any property. While their standards aren't as stringent as they used to be, a home needs to be in relatively good condition to qualify for FHA financing. Location And Lot To qualify for FHA financing, the property has to be located on a road or easement that lets the owner freely enter and exit. The access also has to be paved … [Read more...]
