Comments on: Land Contracts & FHA Loans

by: B. Willoughby

Sat, 12 Apr 2008 13:35:15 +0000

Question: Will FHA loan to first time buyers for land over 10 acres?

Was told by a mortgage lender that I will not, and just wanted to look into the whys and nots.

Also if not what way should we approach found land of our dreams but FHA will fund it?

by: Peter G. Miller

Sat, 22 Sep 2007 10:35:46 +0000

HUD says that it has issued for system or product acceptances for “Structural Engineering Bulletins (SEBs) which are issued by HUD for structural systems, such as modular housing, log homes or panelized construction, and for subsystems such as roof or wall systems.”

It also says such acceptances lapse after three years. If you want to finance a log home, check FIRST with multiple lenders before buying land or beginning your project to assure that FHA financing is available for the specific construction you expect to undertake.

by: Terry Minard

Sat, 22 Sep 2007 00:43:36 +0000

Question: Will FHA loan on Log Homes