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What exactly is an FHA loan??

April 26, 2017FHA Home Buying loan real estate community

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What exactly is an FHA loan??

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I have been approved for an FHA loan and my mortgage broker told me I could not buy a fixer-upper, but when I look into FHA loans all I am finding is stuff about fixer-uppers. What exactly are the requirements of a house to pass FHA inspection? My realtor has no real answers and just keeps saying “oh this won’t pass” to everything we look at, but never gives me a straight answer as to what will pass. I really want to buy a home, and I have a downpayment ready, but it seems like there is no house in my approved price range that will pass FHA that is also in my target area.