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FHA limits?

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southernficoaddict
Frequent Contributor

FHA limits?

Does FHA have a limit on the amount of acreage that can be included in a sale?  The home we are looking at has 25 acres with it.  Thanks in advance!
Message 1 of 4
3 REPLIES 3
DallasLoanGuy
Super Contributor

Re: FHA limits?

i am not sure they have a limit. the lender might.
 
what is the land worth?
what is the land + improvements(house) worth?
 
Retired Lender
Message 2 of 4
southernficoaddict
Frequent Contributor

Re: FHA limits?

The land is worth about 2500 an acre.  The house was on the market first for 320K, but we feel like we can get it for 250k.  I think they had it listed first for apr. amount.
Message 3 of 4
DallasLoanGuy
Super Contributor

Re: FHA limits?

that sounds reasonable if it is common in your area.
ask your lender for their guidelines.
 
the reason i asked what i did.... was that fha doesnt want to lend on land. people think they can stick a mfrd house on 160 acres and call it a home loan. pfft
Retired Lender
Message 4 of 4
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