Differences Between Home Selling With Conventional Loan And FHA / VA Loan Hello Friends. What are the differences ...
The differences between the sale of a house with a Conventional loan and the FHA / VA loan
Hello friends.
What is the difference in terms of the seller besides that the FHA standards are more severe, for example have to fix wood decay etc. But the sale form has both options and of course if it is possible to sell conventional it is preferable because it is less severe but if you want to increase the pool of potential buyers and also allow purchase with FHA loans - What are the major disadvantages?
Thanks.
The difference between 2 options depends on which asset you sell / buy. That is, whether it is SF property or Condo.
As long as there is no association then there should be no problem with the FHA or Conventional Loan.
The only thing is the bank's more stringent checks on the property before the buyer gets approval for the mortgage
In the VA mortgage the applicant receives 100% financing on the property. This means that if you are the seller you pay the entire Closing Cost. Does the mortgage applicant have to spend a dime?
In a standard mortgage, the hammer must put down a down light
The big drawback is that the appraisal report has stuck to the asset for 30 a day, so if a low appraisal estimate is a bit of a stick in that sense.
In addition as you have specified more stringent standards
And the last thing is that they will usually ask for more closing expenses in a deal usually because of the type of population (not always)