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

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

Exactly what are FHA property that is ineligible?

  • Non FHA authorized condominium projects and/or projects that are cooperative
  • Manufactured/mobile domiciles. Manufactured housing is understood to be any dwelling constructed on a permanent framework. Manufactured houses are ineligible even though the towing hitch, wheels and axles were eliminated.
  • Condo Hotels, also called Condotels, that are tasks 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 associated with community, and commercial use cannot exceed 25% associated with living area that is gross. Continue reading