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Old 01-28-2009, 08:15 AM
 
162 posts, read 472,693 times
Reputation: 38

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Hi guy's

My co-worker received an offer on her condo from someone with an FHA loan if they accept the offer. Her and her bf are not sure what to do. I personally never heard of the FHA loan nor do I know anything about it. I did some research online and I sort of understand it and explained it to them a little. My question is , is it safe for the sellers, is there anything they should watch out for or expect things to come out later on? It doesn't benefit the seller at all does it?

Thanks
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Old 01-28-2009, 10:37 AM
 
505 posts, read 1,521,042 times
Reputation: 207
I used an FHA loan to purchase my house and I can tell you from my experiences, it was no different from dealing with a "regular" mortgage.
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Old 01-28-2009, 10:56 AM
 
526 posts, read 1,223,035 times
Reputation: 74
Quote:
Originally Posted by plume12 View Post
Hi guy's

My co-worker received an offer on her condo from someone with an FHA loan if they accept the offer. Her and her bf are not sure what to do. I personally never heard of the FHA loan nor do I know anything about it. I did some research online and I sort of understand it and explained it to them a little. My question is , is it safe for the sellers, is there anything they should watch out for or expect things to come out later on? It doesn't benefit the seller at all does it?

Thanks
As the seller of a condo you should see very little if any difference from a conventional loan.
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Old 01-28-2009, 11:42 AM
 
Location: South Jersey
7,780 posts, read 17,792,647 times
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absolutely no difference. What were you thinking was gonna be the difference? The government actually backs an FHA so its a very safe loan
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Old 01-28-2009, 11:54 AM
 
162 posts, read 472,693 times
Reputation: 38
She didn't know what the difference will be, that's why I ask. She didn't get that much info from her realtor. People need to ask these questions when they're not sure, correct?

Well thanks for the info . I will pass this to them .

Thanks again!
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