By: Terry Sheridan www.OnePlaceOpenHouse.com Know the basics of FHA loan rules and you stand a better chance of selling your house or condo. Most buyers will expect a home inspection, including a form outlining what the inspection revealed. Make your house FHA-friendly, and it will appeal to more homebuyers. Why? Because the Federal Housing Administration is insuring the mortgage loans used by about 30% of today's homebuyers. If your house passes the FHA rules, it will appeal to buyers who plan to use an FHA-insured mortgage. If your house doesn't qualify for an FHA loan, you're cutting out 30% of potential buyers. FHA is especially important to first-time homebuyers and those with small downpayments because it allows borrowers with good credit to make a downpayment as low as 3.5% of th...
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