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lismik
LIF Infant
Member since 9/10 311 total posts
Name:
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FHA Loan
So we are going for a condo and the REA forthe seller said we cannot go for an FHA loan bc the condo developement is not supported by FHA-is this a bunch of bs or can this really be true?
They have also said we cannot go for a SONYMA either since it is considered a 'government loan'. I dont get this-why does teh seller care as longa s they get their money. We are thinking it is because these two take longer to close?
Any advice or information you can offer is appreciated. Thanks!
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Posted 10/20/10 4:21 PM  |
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Prudential Douglas Elliman Real Estate
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: FHA Loan
yes this is 100% true
the condo must be FHA approved
it's not the seller that cares- it's FHA
this is a red flag- I would be asking why they are not FHA approved
do you have an agent or are you doing this thru the sellers agent?
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| Posted 10/20/10 4:26 PM |
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