Will you lend on homes that require repairs?
We will lend on a home that requires repairs. Certain repairs may need to be performed before closing for items such as broken windows, missing appliances, damaged walls and other items which may affect the value of your home. Upon receipt of your appraisal, our underwriting department will make a determination as to which repairs are required to be made. In addition, the appraisal must indicate the condition of the home to be “average” or better.
Related FAQs
- How long does it take for the appraisal to be completed?
- What is an appraisal and who completes it?
- What is the cost of the appraisal and how is it collected?
- If my property’s appraised value is more than the purchase price can I use the difference towards my down payment?
- If my property’s appraised value is more than the purchase price can I use the difference towards my down payment?
- Can you use an appraisal I already have?
- Will I need an appraisal to get a mortgage?
- Are there any special requirements for loans on condominiums?
- When do you require flood insurance on a property?
- Do you provide financing for mobile homes?
- Do you provide financing for lots or large tracts of land?