fha appraiser didn't pass windows can we switch to conventional?

FHA appraiser check for certain Health and Safety items. Working windows is one of the items that is required. Yes, it is possible for you to switch to conventional, but before you did that, try working with the seller to have the issue resolved. Here I Arizona it is very common for an FHA appraisal to require certain repairs. Doors that don't close and lock properly, broken windows, or windows that don't close and secure are very common repair items. In almost every case, the seller, when confronted with the request to repair will do so. This also applies to homes foreclosed on and being sold by the bank. Up-front, they will tell you "AS-IS with no repairs", but in the end, the will do the repairs to close the deal. The reason is pretty simple, once a property is appraised for an FHA loan, that appraisal is married to the property for 180 days (6 months). That means that if you cancel the deal because the seller won't make the repairs required for FHA, they will no longer be able to market the home to any FHA buyers, effectively killing 30-50% of the potential buyers from purchasing the home. The question as to can you switch to conventional is best answered with another question. Yes you can switch, but do you qualify for conventional. Conventional loans are more stringent in the underwriting guidelines; require lower larger down payments and usually better credit. If you were my client, I'd have put you into an FHA loan ONLY if you did not qualify for better terms using conventional products, of if you did not qualify for conventional. If this is your case, then work with your agent to encourage the negotiation of the repairs. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Yes you can, but trying to get the issues resolved by seller if possible is the best way to go.

Assuming you qualify for a conventional loan, sure - you can switch loans. But don't just assume. Contact your loan officer and real estate agent to find out if you qualify to switch, and what the changes will mean. Also contact your agent to see if this is something that the seller can or will fix.

Yes, if you qualify for a conventional loan (5% minimum downpayment and the PMI is very different). It is also possible to include the window repairs in your mortgage - provided the appraisal supports the cost of those improvements. Many lenders do not allow that but we do it all the time as a simple repair-escrow mortgage (not as a 203k renovation loan). The work is completed within 30 days after you close. Let me know if I can help.

You can, however the appraisal you have will not longer be valid, and you would have to pay for another appraisal.. it's best to ask the seller to correct the problem rather than you taking on the expense of switching loan products.. Also, conventional financing requires larger down payments, and better credit. In reality, if your loan officer put you in an FHA loan product, he probably did it because one of 2 reasons.. you didn't have enough down payment for conventional, or your credit profile & debt to income levels were not acceptable for conventional. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com