Why Don't Sellers Like FHA Loans?
Are you a first-time homebuyer considering an FHA loan? You may have heard from Realtors or other that sellers don't like them, but why? We explain the differences between conventional and FHA loans and why sellers may not prefer FHA loans. #mortgage #realestate #mortgagespecialists
Conventional loans are generally harder to qualify for, but offer more flexibility in terms of pricing if the home is appraised for less than the agreed-upon price. FHA loans, on the other hand, are government-insured and easier to qualify for but may have higher interest rates and stricter guidelines for appraisals.
These guidelines can include requirements for repair of certain defects, such as peeling paint, safety handrails, and functioning appliances and systems. So, before you start your home-buying journey, watch this video to learn more about the pros and cons of FHA loans. And if you're ready to begin the pre-approval process, click the link below to get started.
https://mtg-specialists.com/sellers-d...
Why Don't Sellers Like FHA Loans?
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TIMESTAMPS
00:00 - Intro
01:44 - FHA Appraisals
02:25 - FHA Loans CAN be Riskier
03:05 - FHA Minimum Property Standards
03:40 - 5 Main Requirements to Pass FHA Appraisal Inspection
06:39 - Conclusion
07:25 - Outro
Mortgage Matters in Minutes Episode 5
Licensing info: Brent Rasmussen, NMLS 5918 at Mortgage Specialists, LLC NMLS 2424
For licensing, go to www.nmlsconsumeraccess.org
Address: 8420 W Dodge Road Ste 113, Omaha, NE 68114 Equal Housing Lender
Website: www.mtg-specialists.com
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Mortgage Specialists, LLC for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Mortgage Specialists, LLC does not guarantee the quality, accuracy, completeness, or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Mortgage Specialists, LLC. Mortgage Specialists, LLC and its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. Mortgage Specialists, LLC is a limited liability company organized under the laws of the State of Nebraska. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture, or any other government agency.
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