Why Sellers May NOT want Your FHA Loan | FHA Loans | FHA Disadvantagesb | FHA AMENDATORY CLAUSE

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[@pangxiong4467]

Don’t get discourage! We are closing on our home on Monday with an FHA loan.

[@eseliq1218]

city?

[@pangxiong4467]

@@eseliq1218 Blaine, Minnesota

[@eseliq1218]

@@pangxiong4467 kool congrats on your new HOME

[@pangxiong4467]

@@eseliq1218 thank you!! 💛

[@ShaheedahHill]

Yes, you can definitely make it work. Congratulations!!!

[@obinna3037]

My first ever offer was accepted yesterday

[@porshiaparker2339]

Congrats

[@candicewalker965]

Congrats!!!...I'm patiently waiting on mine🙏

[@gz4coiliam600]

CONGRATULATIONS!

[@ShaheedahHill]

That is wonderful!!! Congratulations....

[@jsrt8677]

Congrats 🎊

[@itsshelbyslyfe]

As a first time homebuyer I am so appreciative of you taking the time to explain in detail and give resources for common issues and things to look out for. No one in my family has ever purchased a home so much of my guidance come from reading and videos. My realtor doesn’t even get this in depth. So again I thank you☺️#wishyouweremyagent

[@ShaheedahHill]

So glad it was helpful and thank you for your feedback. I'll be your virtual Realtor😊. Join my first time buyers FB group if you haven't already. Link is in the description.

[@jlv3x]

Sometimes having family members that have purchased homes is just as bad. They think that your situation and experience should be exactly the same as theirs. Most realtors will even tell you that every home buying experience isn't the same.

[@jamessisoutham1466]

Don't give up keep putting offers

[@therealmarieallen]

FHA holds EVERYONE ACCOUNTABLE!

[@dangelamarx80]

I would not want to keep someones earnest money if they are trying to buy a home. If it has to terminate… fine. But Im not keeping that money. I dont need that kind of bad karma lol

[@Charlesbjtown]

Its not "bad karma". Especially if you've taken your home off of the market. If you have to relist, the home is cursed, and could become hard to move. Its business, nothing more.

[@dangelamarx80]

@@Charlesbjtown Karma shows up in business too. Its 24/7. But I recently purchased a house and when I say the sellers drained me dry…. If it was customary to take the shirt off my back to add to the deal I think they would’ve. I agree with you, business is business… but I just wouldn’t want to be that person. Especially if its a single woman just looking for a home.

[@trecome396]

@@Charlesbjtown thank you!

[@530FREEDOM]

Fha is great it keeps the seller honest.. Appraisal is safe and will have the seller fix something that maybe Big issue and have to be fixed before closing..

[@tebenneygreen7883]

Yep it seems that way,and it’s sad that it seems that’s why people don’t want to take it because they are held accountable and not able to take advantage of people who just want a home.

[@tfptravel.food.peace.3788]

Fha seems like a great protection for a FT homebuyer!

[@tinasmith8241]

Unfortunately, for the seller, FHA appraisals are very strict, and often use biased criteria that might not be fair to the seller's actual home, upgrades, neighborhood, etc, which will cause the appraisal to come in lower than should fairly be. As well, most buyers ask the seller to pay 6% for closing costs, and with today's high home prices and high taxes, and paying commission, most sellers are tapped out.

[@beautifulinc1869]

Thanks for the video. Good to know why our offer was possibly not being accepted so many times. Thankfully, we are now officially under contract with a new construction property as of last Thursday.

[@ShaheedahHill]

Congratulation on being under contract. It is frustrating. I do get the majority of my FHA buyers under contract but it just takes a little longer.

[@nikkiau1]

Even though I’m a Realtor in NC, I still love watching your videos. I love how you break things down in an easy to understand way. We need more Realtors like you!

[@ShaheedahHill]

Thank you, and start a channel so people can find you in NC, these first time buyers need more of us out here.

[@yvette3831]

@Nikkiau1 I am looking for a Realtor in NC. Would like to use USDA direct. Can you help? Thanks.

[@magnelpitt398]

The house that I had an offer on was appraised for less than the market value and I was able to withdraw my offer and get my ernest money back because of the FHA mandatory clause. Good information ❤

[@ShaheedahHill]

Thanks for sharing!

[@m.magdalenedieujusternfutu3309]

Am going through this right now. She is 100% correct. I was informed by seller if they dont get offer outside of FHA than they would start accepting FHA which a date was given. Also alot of homeowners are requiring buyer to have a realtor in order to view homes.

[@patrickdurham8393]

Never been in this early! The seller didn't care that I had fha because they had sulphur water and 2 cash buyers backed out because of that. I'm a plumber so it's a no brainer! I did get a higher rate so I hope you do one on early refi.

[@ShaheedahHill]

Hey, yes...I'll do that. So happy that it worked out. Love to see you comments. I'll work on getting a refi video out.

[@jessikalopez4710]

It sounds like most of the down sides for a seller accepting FHA are upsides to the buyer using FHA. Perhaps its just naiviety on my part, though.

[@Victoria-es6eh]

This was very insightful as I just purchased my 1st home and I ran into into several issues with attempting to submit offers with my FHA loan approval and ended up having to switch to conventional as a last resort due to the headache of it all.

[@ShaheedahHill]

Thank for sharing!

[@oshynclair7592]

What's a conventional

[@Victoria-es6eh]

@oshynclair7592 a loan type that doesn't carry as many restrictions as FHA, lower interest in my situation, but also required a more stable credit score etc..

[@oshynclair7592]

@@Victoria-es6eh Thank you!

[@brittanychrissy]

Iwish I could have you as my realtor. We really appreciate you out here.

[@ShaheedahHill]

Thank you

[@patriciabridgewater1395]

Thank you for the information, some of the homes I was interested in aren't accepting FHA offers until October, now I understand. I checked the history on the properties and they were recently purchased and put back on the market. I was ready to quit because I was taking it personally, I was offering list price and still denied. One seller said they are holding out for a higher offer😭, (I don't blame them). No one cares that your a first time home buyer in your 50's. Thanks for the info.

[@ShaheedahHill]

Yes, it is not personal. Just get our there strategize and you will be able to find something even with FHA loan. It just may take a little longer in this market.

[@patriciabridgewater1395]

@@ShaheedahHill Thank you for all you do, information is power.

[@monicarenee7949]

How are things going now? I’ve found that the market seems to be dying down a little now. I have a friend who offered a little lower than offering (the sellers were selling for a ridiculous amount) and the sellers were being greedy and waiting out. Ended up selling for less than my friend offered for. People really were taking advantage of the market, but hopefully that will start to change now.

[@yvettepitts5467]

This was and is very helpful to know the "why" behind this. Thanks for sharing and doing this video!

[@ShaheedahHill]

Glad it was helpful! @yvettepitts5467 Thank you for watching

[@leschurchill804]

One reason a seller might not want the FHA loan, is due to the inspectors, which I have had first hand knowledge in dealing with them. The inspector that came to my house wanted all of my exterior doors removed and replaced although City Hall bldg code inspectors had approved them. Do you know how much exterior doors costs these days? When I called my contractor to have them removed, he went ballistic, because he knew that guy was just being a prick, because he could not find anything wrong with the house. If they turn in a report, that states there are no imperfections, they will not be paid for their visit. Thus, they make up 'improvement requirements' to get their inspection fee paid. I still have my paperwork, and I WILL NEVER DEAL WITH THEM AGAIN. I WILL TAKE MY HOUSE OFF THE MARKET FIRST. Ms. L. Churchill

[@greenbyrd3665]

I sold my condo last year, and the realtor said he wouldn't even deal with FHA buyers. Said it took longer to close. I wasn't sure, but I relied on his experience, and it did sell very quickly. Offer within 48 hours and closed within 2 weeks!

[@ShaheedahHill]

Yes, some Condo communities are not FHA approved. That would be reason #6😊

[@greenbyrd3665]

@@ShaheedahHill He did say, no FHA loans allowed, but I had no idea that this was even allowed. Sounded discriminatory to me, but your explanation makes sense.

[@DJSuPreme7]

"Queen Shaheedah of Real Estate Education" This is my new name for you! Thank you so much I didn't even know these benefits for FHA. I wish you lived in the DMV so I could hire you to be My Agent and Home Owner Educator! I am going thru it trying to find a home in this Seller's Market. It feels so overwhelming because I'm trying to save as much as possible, put bids etc The competition is overwhelming me but it may not be my time I may need to wait..Thank you for this video!

[@ShaheedahHill]

Thank you..I will receive that. I know that area is very competitive. Remain patient...you will find something.

[@neorabado8990]

This is great info! I almost closed on a FHA loan. I backed out because it just costed way too much and it just sucks for sellers. 1.75% mortgage up front fee even tho you can finance that, that’s a ridiculous charge in my opinion.

[@a2djizzl]

We started this process about 3 weeks ago....... This is THE MOST FRUSTRATING thing to go through.....after waiting most of your adult life dreaming and working toward.....and be so close.....but, overlooked again....and again....and again......house after perfect house....being a 1st time, FHA buyer. .....We are now, lowering our price range to see if we can get an offer accepted.

[@ShaheedahHill]

Best of luck, check out my offer tips playlist - kzbin.info/aero/PL6YdU_zvybVnmLu0ohzJTVwlc_y7ucF9Z

[@chrystalross8279]

I’m a fairly new realtor and this info was great!

[@ShaheedahHill]

Thank you and best of luck in your new career!

[@mr.bitcoin1953]

As a 20+ year real estate agent, I'm knowledgeable of everything in your video except options money. Haven't heard of any agent or buyer offering that in Georgia. The market is a little different now but your video is very informative to first time buyers. Great job.

[@ShaheedahHill]

Yes, options money has been on the GAR contract but it really hadn't been widely used until this crazy sellers’ market. But yes, we are beginning to normalize in Georgia so I think it will be used rarely again. Thanks for the feedback and for watching.

[@asteven8]

this is so helpful to know! GA first time buyer with an fha loan, here. i love your videos and the content.

[@ShaheedahHill]

Thank you so much!

[@ElleBrOw]

🗣🎤 Good eve. Tuned in & taking notes 📄✍🏽.

[@ShaheedahHill]

Hi friend! We are up late tonight😴

[@subprime2006]

Greedy loan officer will steer you to FHA loan because commission on those type of loan is HUGE 3-3.5% of the loan amount.

[@miguelrosales1720]

Now we are back on buyers market so use FHA

[@cynthiataylor6839]

Thank you for your clear, concise information. Will be looking for more of your videos.

[@ShaheedahHill]

Thanks for watching!

[@cecesonrisa9408]

My heart is grateful for you. You have no idea how many lives you have changed. I'm in the market for a home and the process has been long and arduous. Of late, I've been feeling defeated. Your videos have a way of keeping hope alive. I shall reap if i faint not. I know what God promised me and it shall come to pass! I will have my keys very soon🎉

[@ShaheedahHill]

Thank you so much Cece! Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you - Do the work and God will do the rest🙏🏾

[@msistah247]

I definitely have learned again on why you are the EXPERT!!

[@ShaheedahHill]

Thank you 😊

[@vc663]

Wow had no idea about this info. Thanks so much Shaheedah. These videos are so informative. Its good to actually take notes while watching. Knowledge is power!

[@ShaheedahHill]

Thanks for watching and taking notes😊

[@saritamoorebansa4485]

If you ever create a follow up FHA or VA loan…. You should describe the appraisal process and it’s importance. ( I just sold a four flat building in Chicagoland area… and I was only aware of conventional loans, had to do a crash course on FHA loans to make sure I understood the process….I had to hold my breath to the last minute… very stressful 😞😟😒 but it got done. My building was in 8.5/10 ).

[@gem1n1te]

Wow, thanks for explaining all that! This is the most informative video that I've seen on the FHA subject. I didn't understand why no one likes FHA

[@ShaheedahHill]

Thank you for watching

[@__lana1993]

I’ve been getting picked over congenital left and right . It’s a little discouraging .

[@ShaheedahHill]

It just may take a little longer, but hang in there.

[@dianeloe5684]

My daughter accepted an offer in March for a buyer using fha. It still hasn’t closed for multiple reasons even though the property appraised for over the amount and there were no issues with the condition of the property. She says she will never sell a house fha or va ever again. We bought our first house fha and after that experience we swore we’d never use fha again. Fha sucks for buyers and sellers. When we sell this house we will not accept any offer with fha financing. Two of my kids bought houses with zero down USDA loans, and two used a 3% down conventional, all with no problems. There’s other options out there. I don’t know why anyone goes fha.

[@ShaheedahHill]

Thanks for sharing

[@maryosilama513]

I have really learned a lot from yours amd Mr J. Smith's video. Thanks to both of you.

[@ShaheedahHill]

Great to hear!

[@kristenjones5366]

Thank you, this is more insightful than any information that I've received from either my realtor or lender :( With the way the market has been here in Maine since COVID I don't know if my offer will ever be accepted with an FHA since homes are selling for almost double than what they were less than 10 years ago. I haven't bothered looking at a convential loan because I don't have the money to put down, I've been paying off debt and helping out my mom, so my credit score is great but I have no assets to show for it :/

[@ShaheedahHill]

Thanks for watching, good luck on the search. It will happen😊

[@MrCjdunlap]

Awesome information. I'm also a first time home buyer. Your channel has answered so many of my questions and has given me an understanding of the market and the challenges that comes along with buying and selling. Thank you!

[@ShaheedahHill]

Thank you so much!

[@MrCjdunlap]

You have no idea how much you have helped me through this process. I was approved with an FHA loan about 2 months ago. My agent called me on yesterday, which was Sunday and told me that my offer was accepted for a 4 bedroom and 2 full bathroom home. This is after multiple bids and being rejected or out bidded. Thank you!

[@caracol4026]

Shaheedah! Thank you so much for explaining in detail why some sellers don't want to deal with FHA loans, I often asked my self this question. I love your videos

[@ShaheedahHill]

Thank you so much for watching

[@esskay8768]

Unfortunately, even with a VA loan..it's not too favorable..Thanks for this video..Very Informative!😀

[@ShaheedahHill]

Thanks for watching! Yes, some VA buyers are in the same boat but sellers usually look at veterans in a more favorable light. Thank you for your service. You will find something soon😊

[@denishagriffin7822]

My fiance and I looked for months last year and nothing. No one would accept our VA loan. I began reading up on why this was, and understood why VA would be the last to ever be accepted. It made the experience sad and discouraging. There would be multiple people at one showing, it never felt private or like you were important. People say, oh the market will get better, but for my family and I, still no luck. We got approved for a traditional loan, still with no luck. I wanted our realtor to speak up for us, and she explaining that, that behavior is now prohibited. I would see no FHA in description, and didn't understand why, but now I do. For now I'm giving the house search dream a break. Thanks so much for your video.

[@ShaheedahHill]

Im so sorry you experienced this, especially after serving our country. I would say the current market is much more favorable, but take your time, now that rates are higher, you want to make sure you are getting a good deal.

[@denishagriffin7822]

@@ShaheedahHill Oh ok. I truly can't thank you enough. Thanks for the encouragement. 😊

[@bobrebera494]

Great protections for the buyers-if they need repairs get a 203k which will include a FHA minimal property report which covers 35 items that will be inspected.

[@ShaheedahHill]

Thanks for watching!

[@daniellethalia6579]

Could you explain more please?That means 203k allow fha home buyers to buy a house to fix it. I want to buy a farm that need to put floor in a room will fha appraisal approve that

[@lindahamlin5234]

Hi Shaheeda!!!! I would like to know what is the difference between a property being in contingent as opposed to pending.

[@ShaheedahHill]

If really depends on your state but in GA, contingent would mean the house is under contract, but the buyer has a house to sell first, so the offer is contingent on their home sale. If you make and offer on a contingent sale then the seller can give that buyer a chance to remove that contingency or they can choose your offer. Pending usually means it is under contract with no contingency.

[@t.willis2862]

Very helpful, I am a first time home buyer in MI and I bid on 2 homes and lost them both. I am conventional buyer but I am losing out due to "guaranteed appraisal" and free rent for 30-60 days I can' t offer it free.

[@ShaheedahHill]

Totally understand. I hope you find something soon.

[@nicoleh.6352]

I have a FHA buyer I've been struggling to get under contract.. every house is a multiple offer situation😔... still a very informative video though 👍🏾

[@ShaheedahHill]

In my experience depending on the price point, they will have to at least offer to cover a portion of the gap. I just listed a townhome for 195K, all offers were above list....the majority of the offers were FHA only about 3 of the 25 offered to cover any portion on the appraisal gap, those are the only ones the seller seriously considered. Best of luck!

[@nicoleh.6352]

@@ShaheedahHill Thanks 😊

[@jlv3x]

As a FHA buyer in this sellers market I had to cover $11,000 difference between the appraisal price and what the seller wanted for the house. The seller was upset that the house appraised for $28,000 under my offer price. I was pretty sure that the house would appraise for less than what I offered, but didn't know the seller would be so stuck on getting more than the asking price.

[@ShaheedahHill]

In these situations it really depends on how much the buyer wants the house and if they are willing to walk away. Congrats on your home. I hope your equity is up since your purchase. If not yet, it should get there over time.

[@lovehope3753]

Thank you for the information. I did not know that a 3% down payment of conventional loans was available. Goodbye PMI. LOL

[@ShaheedahHill]

Yes!

[@KamalElfahssi]

Thought I beat everyone to comment, unfortunately someone did already lol. Thanks Shaheeda for the always great information.

[@ShaheedahHill]

Hey got it out late...but thanks for the support as always😊

[@OzzieAngrish]

So thoughtful and helpful. Some of these tips, I know, but you just added more. If only could get it together and post on my channel more. Thank you for sharing. We are caring Realtors. 🤗👐🏾🤗

[@ShaheedahHill]

Hi Ozzie, thanks. #6 that I forgot...Condo/Townhome communities that are not longer approved for FHA financing.

[@NayDay718]

I ran into the 90 day rule on a place I really want !

[@ShaheedahHill]

Keep an eye on it, sometimes they will still be on the market after 90 days.

[@latonyacloud8550]

Please make a video on Caivrs. Its important that buyers be aware of FHA using this site to see if any defaults. Our closing date was today. Found out Monday husband has a default in Caivrs, we weren't aware of this. In 2016 his loan was dismissed due to be defrauded by the school he attended. The lender wanted my husband to handle it. Then decided to convert to conventional but I can no longer trust this lender. We started this process 5 months ago. A processors job is to find this type of stuff before it gets close to underwriting. I know because I'm a processor. I need some advice. Please. My lender and agent are both useless.

[@AFColors47]

Pretty new to your channel and let me say, I’ve been binging while working! Love your videos and plan on emailing soon. Hope you have a great day! 😊

[@ShaheedahHill]

Thank you so much!

[@ukcalling]

This was very helpful. Should a first time home buyer get a pre-approved loan from a lender first or find a real estate agent first? I keep getting conflicting information/advice and don’t know which is best. Thank you!

[@ShaheedahHill]

I recommend agent first so they can help you find good lenders. But it is done both ways.

[@ukcalling]

@@ShaheedahHill thank you! Now to find the right agent!

[@krystalchisem3164]

Hi Shaheeda! Thanks for another great video! I wish I could clone you! Do you know of any realtors in Birmingham, AL that you would recommend?

[@ShaheedahHill]

I'm sorry, I don't but I am working on a referral list soon!

[@dandeelion]

Thank you for this!!

[@ShaheedahHill]

You're so welcome!

[@tabithaadams8815]

Good useful information!

[@Sunshine4]

Thank you so much! Helpful as always 💜

[@geraldine1437]

Great Presentation!!!

[@ShaheedahHill]

Thanks for watching!

[@millienazario8744]

I’m so down! 3 offers sent and no one be take FHA

[@ShaheedahHill]

Offer to be a binding back up offer. I explain it here: kzbin.info/www/bejne/b4KafmeOj8aFY9U Keep at it😊

[@RJ-cv2uw]

Hi Shaheedah, please answer. My mortgage loan was submitted to underwriting today but I'm nervous. I put 20% down on a 397K home. 710 credit score BUT my DTI is at 49.7%. It's a conventional loan, how worried should I be about DTI?

[@ShaheedahHill]

You should be fine. They should have calculated your DTI in the pre-approval stage. Please watch my Underwriting video, it should calm your nerves. Congratulations on your new home!!

[@RJ-cv2uw]

@@ShaheedahHill thanks, still haven't heard back

[@RJ-cv2uw]

Update: 3 weeks into underwriting and not a peep. Loan officer says he hasn't heard anything either. So frustrated, just wanna ask seller for my downpayment back and say the hell with all this.

[@mayasalinas4238]

I have a question. So here’s a scenario: say we make an fha contract of 330k, then the home appraised at 328k. We make an amendment and agree to come up with the extra 2k but then along the line we back out. Should we still get our earnest money back in totality?

[@ShaheedahHill]

Yes, it is likely since you are not required to pay more than the appraised value with an FHA loan, but the seller does not have to sell it to you for the lower price either. Speeak with your closing attorney to be sure. www.fha.com/fha_article?id=2179

[@nicole1969]

I have a FHA loan but the buyer is selling their home as is. The sales stated that they aren’t going to fix anything. What do you do if the seller is not wanting to fix the home?

[@ShaheedahHill]

It really depends on what condition the home is in, if the condition is not good enough to qualify for FHA or the appraiser may require repairs sometimes lender will allow you to roll this in or you can cover the cost of repairs to be paid from the sellers proceeds at closing. See what options the lender says that you have in this circumstance.

[@tosinorogun]

Great job!

[@ShaheedahHill]

Thanks for watching!

[@injusticeanywhere381]

Very good to know

[@ShaheedahHill]

@injusticeanywhere381 Thank you for watching

[@Jaystar876]

240 days not 120 days for the fha case number to be expired from that property

[@ShaheedahHill]

How long is an FHA appraisal good for? In general, FHA appraisals are good for up to 120 days. In some instances, an appraiser can recertify the value if they agree to do so before the original appraisal expires. www.rocketmortgage.com/learn/fha-appraisal HUD - archives.hud.gov/offices/hsg/sfh/ref/sfhp1-06.cfm Thanks for watching

[@blessedmom7448]

Excellent video😊

[@ShaheedahHill]

Thank you very much!

[@lilsolo68]

What’s the first step? First time buyers, dual income, leaning toward fha loan

[@ShaheedahHill]

Watch my videos 😊 I have a first time buyers playlist and download in the description. I have a where to start video and that is also the download.

[@candicewalker965]

Hi, how long an underwriting process usually last?...mine was submitted last Friday, I'm nervous I haven't heard back yet...

[@Fat_n_fine]

Sometimes it could take up to 2 weeks.

[@ShaheedahHill]

Depends on the lender and how busy they are, but please watch my Underwriting video and it will give you some insight. I would estimate 1-2 weeks on average. Thank you for watching!

[@marcushunter1406]

Great content!

[@ShaheedahHill]

Thank you

[@auntiesmarket4334]

sis, I think you need a MIC. I'm a little hearing impaired

[@ShaheedahHill]

Sorry about that, I have a new mic now. But please use closed captioning. That should help...

[@auntiesmarket4334]

@@ShaheedahHill TY. And your content is so helpful, thank you.

[@carobp3575]

Thank you Shaheeda, as is customary this is very useful content!!

[@ShaheedahHill]

Thank you!

[@paratroopergirl4064]

Perception - FHA appraisal tends to be lower?

[@ShaheedahHill]

Not necessarily but with the amendatory clause many agents don't want to take the chance that if it does come in lower the buyer will not be responsible for the difference regardless of what the contract says - With many buyers offering above ask there is a big risk of the property not appraising with any loan type.

[@saritamoorebansa4485]

Awesome video… 🥰😍😘

[@ShaheedahHill]

Thanks for watching

[@SWB_mike]

Who the hell buys a house without appraisal

[@ShaheedahHill]

Some buyers do, especially during the last sellers market.

[@spiritualwarfareisreal2119]

What about HPAP? Can you do a video on that? You are so helpful! Thank you!

[@ShaheedahHill]

I will look into it. Thank you for watching.

[@tonysaxman]

Where is the ribbon information?

[@ShaheedahHill]

Here is the website, I am not sure they are still actively providing cash for offers www.ribbonhome.com/

[@tonysaxman]

@@ShaheedahHill Thank you. Looks like Ribbon was acquired and now there's a wait list to be notified when ribbon is back.

[@qwonstv1]

Very informative thank you!

[@ShaheedahHill]

Glad it was helpful!

[@charlesjohnson4800]

You are the GOAT Geatest Of All Time.

[@leleflower2366]

I Promise I'm listening but What is the brand and color lipstick You have? I'd like it lol

[@ShaheedahHill]

Thank you!

[@tonyyero7231]

Accepting FHA loans is always a Drama! I have bought and sold 9 homes and there has ALWAYS been a WRENCH thrown in on the FHA loans I have accepted! Once a buyers FHA asked me to remove BUSHES near the entrance. lol...from them on I only accept CONVENTIONAL LOANS... there is enough stress on a Conventional to add even more with a FHA! Besides FHA folks tend to be less financially ready to buy!

[@youtubecommenter1000]

All over some bushes? 😭

[@bryantc1701]

Thanks!

[@ShaheedahHill]

Welcome!

[@755hp]

So basically….when you buy using FHA, get a shitty house where there is no competition.

[@ShaheedahHill]

No, it just depends on the market. Most sellers don't care that much about finance type, unless you're in a sellers market and sellers are getting multiple offers. Thanks for watching

[@brittneyyoung8515]

Can you do a video on USDA loans?

[@ShaheedahHill]

I have 2, please look at the home financing playlist.

[@brittneyyoung8515]

@@ShaheedahHill I found it thank you!

[@Techpodshed]

Hi so my friend made offer on a home it was a fha loan. Inspection found foundation problems that needed fixing the roof had issues, but seller told approved buyer he was going leave 30,000 in cash at move in date. Buyer was told by realtor in order to get house backroom deals was OK. In reality it was a flip flop fixer upper turn key ready. Buyer thinks he rich was them 30k. What do u think?

[@ShaheedahHill]

This is a definite NO from me, if the FHA appraiser notices the foundation issues then they will not approve the sale. The 30K won't be part of the contract, so you will have no recourse if they don't do it. Is 30K even enough to cover the repair? If this is a house that they still want, they shoud get a quote from a structural engineer and if possible have the seller pay at closing for the repair. But the best thing for the seller to do is get it repaired before you close. If this was my client we would keep on looking. Consult an attorney for all of the things that could go wrong with this scenario.

[@Techpodshed]

@@ShaheedahHill I tried to tell him but he chose another realtor instead of me, it was going be my first sale, but he felt I didn't have the experience 😌 I was very sad 😄

[@listentoauntrobin9617]

How do concessions work when buying a house and can it be done with FHA loans?

[@ShaheedahHill]

Sellers can contribute up to 6% of the sales price and yes you they can do that with FHA loans.

[@listentoauntrobin9617]

@@ShaheedahHill thank you!

[@Overly_nourished_entity]

If you are pre approved for an FHA loan and keep getting rejected offers, can you switch to a conventional if you meet qualifications?

[@ShaheedahHill]

Yes, if you qualify.

[@daniellethalia6579]

How much cost the appraisal

[@ShaheedahHill]

Depends on the size of home $300-1000 typically

[@sandeepgudipati8310]

Hello, as you mentioned sellers are less/not interested in FHA loan, I am already under contract with the builder, if I end up with getting FHA, will seller cancel my contract with new home?

[@ShaheedahHill]

No builders typically do not care, its less risk for them because they typically have inventory. For individual sellers that is their only house so they are at higher risk.

[@lynnmazon1654]

Who pays for the appraisal the buyer or th seller?

[@ShaheedahHill]

Buyer... please watch my appraisal video for more insight

[@barbaragayle2944]

Can a new house be bought with a FHA mortgage?

[@ShaheedahHill]

Yes, for sure!

[@yume816]

Can you discuss the 180 day rule with FHA? What’s the caveat with doing 2 appraisals? Thanks

[@ShaheedahHill]

The appraisal for FHA stays with the home for 120 days. If that contract terminates and there is a new FHA buyer within that period they will use that same appraisal. If it's a conventional buyer they will order a new appraisal.

[@miquellejacksonmj]

THE SELLER WILL EXCEPT THE FHA, BUT THE COMMUNITY REJECTS THE FHA.

[@ShaheedahHill]

The seller can apply for an exception with FHA, this works in condo communities

[@miquellejacksonmj]

@@ShaheedahHill Thanks for letting me know.

[@incognitonunya4537]

What’s the best fha loan company?

[@ShaheedahHill]

Most mortgage lenders have FHA loans as one of their mortgage products. I do not recommend one over another. However, I do recommend getting 3 mortgage quotes from 3 different lenders.

[@incognitonunya4537]

@@ShaheedahHill thanx!

[@thomas82160]

USDA by far is the worst.

[@claudiasmith039]

I thought conventional was a better loan

[@jayc4715]

It IS!

[@L_TLove777]

Hi Shaheedah! I purchased my 1st home in Jan.2021 with a FHA loan @2.25% rate. I’d like to know if it’s a good ideal to refinance for a Conventional loan at this time or should I wait. My credit score at this time is 736 (middle score).

[@ShaheedahHill]

You may be able to rid of PMI if your equity increased significantly , but interest rates would likely be higher. You should get a refinance quote and see how much money you would save. * Also remember you will have closing costs with a refinance so you would want to make the cost in the savings you would receive over time. Usually you want to be able to save at least 1%, so in your case that is not likely.

[@L_TLove777]

@@ShaheedahHill Thank you so much!

[@Bear_83]

I'm an conventional buyer. If house last offer from an FHA buyer and relist back on market can I get to use there appraisal also?

[@ShaheedahHill]

Good morning, conventional will have to get a new appraisal. FHA appraisals cannot transfer to conventional.

[@Bear_83]

@@ShaheedahHill Good morning , would I be able to see what it was appraised at. Before getting my own.

[@ShaheedahHill]

@@Bear_83 If the seller has it and is willing to share it with you. Watch this video about how the appraisal works from the buyers perspective: kzbin.info/www/bejne/fqu5dZ9-gaaia68

[@surendrasurendra5658]

Hi madam I am an Indian working in US mortgage industry in India I need to underwriting process full class with subtitles and what type of documents need for underwriting it useful for my career grouth please upload Thank you.

[@ru5oify]

Wont lie I listened to everything you said simply because of your teeth lips an tounge 🤦🏾‍♂️ I'm finna subscribe

[@AnnaSzabo]

This is exceptionally valuable information! Thank you so much