Many buyers prefer a low downpayment and therefore choose FHA financing. Conventional financing may offer a slightly lower rate BUT requires more of a downpayment.

In summary, I would recommend conventional financing if available to any buyer, as it does not come with many lender required repairs that come along with an FHA loan.

When it comes to trying to purchase a short sale or a forclosure, banks are ONLY looking for CASH or CONVENTIONAL. FHA loans are ok, but usually if there are no other cash/conventional offers on the table.

To find an amazing short sale, foreclosure or deal of any kind in Maryland, contact Patrick Mace for fast, free service.

-Patrick Mace, Realtor
www.PatrickMace.com