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