Angela Bergin | Flavin & Flavin Realty | Quincy,Braintree,Milton,Weymouth,Dorchester,Hingham RE


If you are in the market for an FHA loan, you are probably happy to get many benefits from the loan like a good interest rate along with the need for a low downpayment. While these loans can be very helpful on the path to homeownership, they can be complex. It’s a good idea to hire a realtor who is well-versed in the ins and outs of FHA loans and standards. A real estate agent can help you to find the right property to suit your needs and meet the standards the FHA loan will require.    


Do you know what you’re getting into when it comes to shopping for a home? The FHA sets the rules for how homes get approved for an FHA loan and under what standards. These rules exist because the FHA is insuring the loan, but the organization is not directly funding the loan itself. This insurance protects the lender if the loan is defaulted on. An inspection appraisal report must be completed on each property. The appraiser is required to be an FHA approved appraiser to complete the job.


Loans


There are limits on how much of a loan you can get when it is FHA-backed. This is because the FHA will only insure a loan amount up to this limit. This means that you won’t be looking at high-end homes because the limits are usually quite restrictive as to the type of property you can get. This holds true unless you can afford a larger downpayment than the standard 3.5% required by the FHA.  


Condition Of The Home


FHA-backed home loans can be rejected due to the poor condition of the home. If an appraiser says that the home is unsafe or hazardous to occupants, the loan will be denied. The assessment of the home’s condition is very important to the lender’s decision to grant the loan. The lender may even require that certain improvements be made before the loan can be approved. These improvements can include pest treatments, fixing leaks, or other damages that are deemed hazardous.


The Property Itself


The FHA also sets guidelines for the type of property that you can get. A condo must be in a HUD approved complex, for example. If you want to research FHA-approved condo complexes, you can search right on the HUD website. Each complex meets the Department of Housing And Urban Development’s standards for financial stability, hazard, and liability insurance. If you’re looking at manufactured homes, these are also held to certain standards. The manufactured home must be permanently attached to the foundation, have the ability to be taxed as a real estate property asset, and have been constructed before June 15, 1976.   



This impressive split entry, brick front ranch, sits high on a hill in a desirable West Quincy/Milton line neighborhood. The home sits nicely on a large lot with great curb appeal & impressive oversized 2 car garage plus lots of off street parking. Central Air. Newer roof & furnace. The main living area consists of a spacious open plan living room & dining room with cathedral beamed ceilings, a skylight, brick fireplace, hardwood floors throughout & a great bay window to enjoy plenty of natural light. Good size kitchen with granite counters & stainless steel appliances. Slider off the dining room leads to a nice deck overlooking the large private fenced yard with an above ground pool & storage shed. 2 small steps up from the main living area will bring you to the 2 bedrooms & full bathroom plus the master bedroom with private bath & walk in closet. The finished family room in the basement has endless possibilities plus a bonus bedroom for the extended family with a half bath & laundry

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139 Grove Street, Quincy, MA 02169

West Quincy

Single-Family

$599,900
Price

6
Rooms
3
Beds
2/1
Full/Half Baths
This impressive split entry, brick front ranch, sits high on a hill in a desirable West Quincy/Milton line neighborhood. The home sits nicely on a large lot with great curb appeal & impressive oversized 2 car garage plus lots of off street parking. Central Air. Newer roof & furnace. The main living area consists of a spacious open plan living room & dining room with cathedral beamed ceilings, a skylight, brick fireplace, hardwood floors throughout & a great big bay window to enjoy plenty of natural light. Good size kitchen with granite counters & stainless steel appliances. Slider off the dining room lead to a nice deck overlooking the large private fenced with an above ground pool & storage shed. 2 small steps up from the main living area will bring you to the 2 bedrooms & full bathroom plus the master bedroom with private bath & walk in closet, The finished family room in the basement has endless possibilities plus a bonus bedroom for the extended family with a half bath & laundry.
Open House
Saturday
June 23 at 12:00 PM to 2:00 PM
Great house & location. Bring or send your buyers. All cards honored.
More Open Houses
Cannot make the Open Houses?
Location: 139 Grove Street, Quincy, MA 02169    Get Directions

Similar Properties




139 Grove Street, Quincy, MA 02169

West Quincy

Single-Family

$599,900
Price

6
Rooms
3
Beds
2/1
Full/Half Baths
This impressive split entry, brick front ranch, sits high on a hill in a desirable West Quincy/Milton line neighborhood. The home sits nicely on a large lot with great curb appeal & impressive oversized 2 car garage plus lots of off street parking. Central Air. Newer roof & furnace. The main living area consists of a spacious open plan living room & dining room with cathedral beamed ceilings, a skylight, brick fireplace, hardwood floors throughout & a great big bay window to enjoy plenty of natural light. Good size kitchen with granite counters & stainless steel appliances. Slider off the dining room lead to a nice deck overlooking the large private fenced with an above ground pool & storage shed. 2 small steps up from the main living area will bring you to the 2 bedrooms & full bathroom plus the master bedroom with private bath & walk in closet, The finished family room in the basement has endless possibilities plus a bonus bedroom for the extended family with a half bath & laundry.
Open House
Saturday
June 23 at 12:00 PM to 2:00 PM
Great house & location. Bring or send your buyers. All cards honored.
More Open Houses
Cannot make the Open Houses?
Location: 139 Grove Street, Quincy, MA 02169    Get Directions

Similar Properties




139 Grove Street, Quincy, MA 02169

West Quincy

Single-Family

$599,900
Price

6
Rooms
3
Beds
2/1
Full/Half Baths
This impressive split entry, brick front ranch, sits high on a hill in a desirable West Quincy/Milton line neighborhood. The home sits nicely on a large lot with great curb appeal & impressive oversized 2 car garage plus lots of off street parking. Central Air. Newer roof & furnace. The main living area consists of a spacious open plan living room & dining room with cathedral beamed ceilings, a skylight, brick fireplace, hardwood floors throughout & a great big bay window to enjoy plenty of natural light. Good size kitchen with granite counters & stainless steel appliances. Slider off the dining room lead to a nice deck overlooking the large private fenced with an above ground pool & storage shed. 2 small steps up from the main living area will bring you to the 2 bedrooms & full bathroom plus the master bedroom with private bath & walk in closet, The finished family room in the basement has endless possibilities plus a bonus bedroom for the extended family with a half bath & laundry.
Open House
Saturday
June 23 at 12:00 PM to 2:00 PM
Great house & location. Bring or send your buyers. All cards honored.
More Open Houses
Cannot make the Open Houses?
Location: 139 Grove Street, Quincy, MA 02169    Get Directions

Similar Properties





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