Financial Information
How often do FHA loans fall through?
I made an offer on a home and I have a pre approved conventional loan. Just hours before (my luck) an offer was accepted and the loan was FHA. I know the home has a problem or two and I was just wondering how strict the FHA guidelines are when purchasing a home. Is there a good possibility it may fall through?
Good chance it will fall through if the offer was higher than the appraisal will show. FHA requires less money up front over conventional and that buyer might not have any cash to bridge a gap. Hope you will not be disappointed. Would keep looking – might be an even better option out there.