Can I get a loan to buy a foreclosure?

Many people refer to purchasing a bank owned property, as purchasing a foreclosure. In this case, you are purchasing a bank-owned prpperty, not a foreclosure. Purchasing a home at foreclosure refers to purchasing a home "at the curb" while it is being auctioned off. I assume you mean purchasing a home that is owned by a bank. If this is the case, the process isn't much different than purchasing any other property. One of the difficulties that it does pose is many of these properties are in deplorable condition and cannot be financed with a traditional mortgage. You can finance a home in need of renovations thru a construction, or FHA 203k mortgage. You can also visit homepath.com for properties listed by Fannie Mae. Homepath offers special financing for Fannie owned properties. If you are referring to purchase at a foreclosure sale, I would warn against it if you don't have substantial money to invest and have experience with investing in property

It stands for "real estate owned" and is a term that refers to property owned by a bank.