Question
FHA loans not accepted in a certain area?
We have a home we want to purchase but we were told by the realtor that FHA loans are not accepted in this town. Why is this? The realtor doesnt know why. The loan broker has never heard of this. We are first time home buyers and cant afford the down payment of a traditional loan. Any realtors or loan brokers out there that have heard of this and know why? Its in California and and the zip is 92397. Thanks! No from what I have been told it is the whole town. No homes are sold using FHA loans. NONE! The home is only listed for $160,000. Its not just one home, a certain home, or certain amount. Its ALL homes in this town. Its a small mountain community with a population of 3000 people. The next town over will except FHA loans but thats not were we want to be. Thats why its so odd.
6 months ago - 2 answers
Best Answer
Chosen by Asker
According to the HUD website, HUD will make loans up to $500k for single family dwellings in San Bernardino County. Perhaps the home you're looking at is above the maximum? On the HUD website you can search for lenders in the area who are qualified HUD lenders: www ... Because you're not getting answers from the broker and realtor you're using, maybe you could try there. Another avenue would be to call HUD's Housing Discrimination Hotline, toll free at (800) 669-9777. They can probably help you get to the bottom of what's going on. And if the realtor and broker are giving you bad information, make sure to file a complaint with the CA DRE: www ...
by Blaugh!
6 months ago
Asker's Rating: 
Other Answers
They will lend to the town. However, that seller has to accept FHA and not all of them do. You can not force this issue. The seller has every right to require conventional. Your agent needs to only show you houses that will accept a FHA loans. there may be none in this town, but it is not because of the program, just the sellers there. The higher the value of the home you want the less chances of finding a seller to take FHA lowers.
by Landlord- 6 months ago