Septic system installation FHA vs FannieMae
By Mike Young, FHA 203k Consultant 828-469-7462
(203kOnLine.com, covering the USA)
Septic system installation FHA vs FannieMaeEveryone knows that the FHA calls for a Septic tank to be at least ten lineal feet from the home or structure. Well that isn't the case with FannieMae. FannieMae says whatever the local community standards are will be acceptable. Why is this important? If I were a lender I would input a "Supplemental Requirement" for my company that adhered to the FHA standard regardless of what FannieMae requires, That is entirely possble for lenders to do.Well, this would increase the pool of borrowers/buyers if we ever had to take that home back to include all FHA buyers. It is just common sense to me, but who am I? LOLI was sitting in a restaurant the other day when the owner of the restaurant said I looked like a celebrity... she couldn't think of who for ...
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