FHA vs Conventional? Is one really slower?

I had an interesting coversation with a client yesterday. The clients are making offers on properties and the listing agent made it clear that - FHA offers were not going to be accepted. It reminded me of a classic Blazing Saddles scene where everyone is accepted except for the Irish (rough language kids). Now at first glance this could be perceived as racist and I am sure some would make that arguement that it is. However, the truth is the uneducated Realtor makes that assumptions themselves.

The methaphor is clear, that there is a preconceived belief that FHA loans are harder and slower to close than a conventional loan. As an Origintor that does both, I can tell you that any loan can be difficult and it makes relatively no sense what product is necessarily chosen.

Of course there are exceptions, most notably condominiums. There are cases where a project is not HUD approved and as such cannot typically be financed with FHA funds.

But other than that, Realtor should educated themselves about the FHA process which is much more streamlined that in years past, and as a FHA approved lending institution, I have first hand knowledge that HUD or the local HOC's have little involvement in the FHA lending process once a lending institution is approved.

So stop limiting the real estate recovery and sell to FHA borrowers!