Replies to This Discussion

Permalink Reply by Kevin - Greenville, SC on March 9, 2012 at 3:28pm

Those are the guidelines, but you should be able to obtain a variance as long as you are still meeting the minimum net required.

Permalink Reply by Deb Orth on March 9, 2012 at 3:39pm

Thanks, Kevin.  I know about FHA on FHA, I was just wondering if it also applies to VA purchase contract on FHA short sale.  The Guidelines speak specifically to FHA on FHA, so I was looking for clarification.  

Deb

Permalink Reply by Kevin - Greenville, SC on March 9, 2012 at 3:58pm

Yes, the type of Loan is really not that important as far as the FHA is concerned as much as the net proceeds, even though their 'guidelines' say otherwise.