The new law does not go as far as its sponsors had hoped. That’s because Federal Housing Administration regulations expressly prohibit the use of FHA loans to purchase a property whose deed.
Private lenders issue FHA loans and the FHA provides the lender with a guarantee to reduce the lender’s risk. To get a loan, start with a local loan originator, online mortgage broker, or loan officer at your financial institution. Discuss your options, including FHA loans and alternatives, and decide on the right program for your needs.
"FHA loans" are mortgages insured by the Federal Housing Administration. or financed with a non-FHA mortgage, you should be good to go as long as the.