FHA should be fine with this scenario
It should be fine. There is something known in the appraisal and real estate world as functional obsolence, which is a reduction of an object's usefulness or desirability because of an outdated design feature that cannot be easily changed, or negative influence of outside items. Next to a cemetary, next to a freeway, and under high voltage power lines are good examples of outside influences. This generally means a reduction in value as opposed to not being able to actually do a loan in most cases. I lend in MN, WI, and SD, and can be found at TwinCityHomeLoans.com NMLS274132
As long as it is not IN the cemetery you'll have no problems. Feel free to give me a call regarding the options available to you. NO OBLIGATION. If decide to work together I will offer you the absolutely lowest cost scenario possible.Mel S.BakerArcstone Financial(310) 985-9778 NMLS 80541
Ask our community a question.