how do i find out if a home i like is fha eligible?

If it is a single family home, it is FHA eligible. Condos have to go through approval and your Realtor or loan officer should be able to look this up for you (or you should probably find a new one if they can't). The only restriction you may run into beyond normal loan qualifying is that the FHA loan limit in many areas here in Arizona is $271,050. It is worth noting that conforming loans will be allowing just 3% down anytime now to first time home buyers. The limit on these loans here in Arizona is $417,000. The final details are being worked out with mortgage insurance companies, but Fannie Mae and Freddie Mac put this in effect days ago on December 13th, 2014. Please reach out directly with any further questions.

Most homes are fha eligible , except for some condo projects I am one of the few that can even do mobile homes, including single wides for FHA.. To close on a home, there needs to be a heat source, and a stove. since I live in AZ ALSO, I would seem to think that the air conditioning is more important.. lol !! but the rules are made back east for all to follow.. You can call me at 602 330 1598 I have close to 30 years in the industry, including being a underwriter.. linda at yourloanpartnerforlife@live.com Have your realtor give me a call and I can get he/her up to speed quickily on what to look for.

most single family homes are FHA eligible- with that being said, the Condition of the property could be a problem when obtaining a FHA mortgage- All utilities must be working, no health hazards, etc.... e-mail at pete.bass@everbank.com for more information. Look forward to hearing from you!

John and Linda has given you all the information you need. Follow their advice.

John, Linda and Pete gave good answers. If your realtor does not know, maybe you need a new realtor.

The only things I would add to previous comments is that even if the home needs repairs it is still eligible for FHA financing using the repair escrow or renovation (203k) option. Also, there are maximum loan amounts depending on the county where the home is located.

good advice from all!

Pretty much any single family home would be eligible for FHA financing. All conforming financing programs have appraisal restrictions where they say the property has to meet minimum standards and cannot have any deficiencies that refer to safety or health concerns.. (mold, exposed wires, broken windows, etc..)... And yes, the Realtor should absolutely know if it's fanciable or not.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Deciding if the home is FHA eligible really comes down to two things. The first is the maximum FHA limit of the county where the home is located. The second thing being overall condition of the home. Contact a local mortgage broker in your area for more assistance. In MN, WI, and SD, visit www.Mortgage-Rochester.net