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FHA Loan Question

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Anonymous
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FHA Loan Question

We are wanting to purchase a home on 3 acres. The seller also owns two additional 3 acre lots ajoining the property. What are the FHA loan requirements for this type of sale if we want to purchase the home and the 2 addtional lots for a total of 9 acres from the same seller.

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203bravo
Established Contributor

Re: FHA Loan Question

You may want to look up the specifics of the FHA 203(i) loan program... It assists with the purchase of rural type farm house with 2 or more acres.  Same requirements as any other FHA loan.

Message 2 of 3
BrianB_The_Loan_Professor
Valued Contributor

Re: FHA Loan Question

great question - the banks will likely want to see one parcel number for the loan - The issue is if you buy all and it is subdivided whats to prevent you from selling a portion 

 

B

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Brian B The Loan Professor
Mortgage Banker - offering FHA, VA, USDA , and Conventional mortgages in all 50 states -

If I do not respond to a follow up question please feel free to contact me directly
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