Oregon, IL · Member since 2016 · 104 posts · 32 votes
For anyone has purchased a property using FHA financing, in your experience are sellers still willing to work with you once they find out your financing is through FHA?
I can't share personal experience from using FHA financing, but I can give you a lenders point of view. Sellers can be somewhat leery of FHA financing because normally it takes longer and is more involved than the conventional loan process. However, as long you work with a lender you trust, that has FHA experience, you should be in good hands.
FHA is a great program, and most sellers are not going to be phased by it.
Jeff Dulla Yes. I can afford to do 20% down on a SFR but this deal is tough to pass on. An upscale duplex which would allow me to come away with two units if I'm able to go through FHA. Do you by chance have any lender connections in the Rockford, IL area?
In the end, a seller gets the same green American dollars no matter if the buyer used an FHA loan, a conventional loan, or a loan from their grandmom. If you offer the right terms, and are a solid buyer, any seller should accept your FHA offer. If the lender says it's going to take significantly longer for an FHA loan compared to a conventional loan, they're a bad lender.
@Brian Nordman yes I definitely can. I am also a lender who handles all of IL if you are interested in speaking to me directly. Just PM me with whatever info you would like and I will get it over to you.