Can you receive an FHA loan for a residential property obtained at auction?

Can you receive an FHA loan for a residential property obtained at auction?

Exactly what are FHA ineligible home kinds?

  • Non FHA authorized condominium jobs and/or projects that are cooperative
  • Manufactured/mobile houses. Manufactured housing means any dwelling constructed on a permanent framework. Manufactured domiciles are ineligible regardless of if the towing hitch, tires and axles have already been eliminated.
  • Condo Hotels, also called Condotels, that are jobs handled or operated as hotel/motel or had been hotel/motel conversions
  • Original properties
  • Farms, orchards, ranches and properties that are rural 10 acres
  • Mixed use must adapt to domestic nature for the community, and commercial use cannot exceed 25% regarding the living area that is gross. (more…)

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