FHA home loans - Ask Extension
What requirements do I have to meet if I want to sell a house to someone that is trying to get an FHA mortgage? Where can I get a list of the repair...
Knowledgebase
FHA home loans #885417
Asked September 16, 2024, 12:36 PM EDT
What requirements do I have to meet if I want to sell a house to someone that is trying to get an FHA mortgage? Where can I get a list of the repairs that I need to complete? Specifically, someone said that FHA will not approve a load for a house that has a built in kitchen oven. Is that true?
Huron County Michigan
Expert Response
Mr. Morgan,
FHA has some requirements that a seller must meet, including not paying more than 6% of the closing costs. I'm attaching the HUD requirements for a seller here:
How Do FHA Loans Affect the Seller, and Six Other FAQs (fhahandbook.com)
It just says that the home must be in good condition with no hazards. There's nothing specific about a built-in oven. FHA loans aren't as tricky as folks sometimes think and many prospective homebuyers go this route.
Regards,
Beth Martinez
