Rudy R. McDowell,
Mortgage Broker or Lender, Birmingham, MI
Livetoride
If seller will allow it, and so long as there are no serious structural, plumbing, electrical, or heating issues, flip this to an FHA loan and you will avoid the Conventional requirements you stated, play a lesser down payment (3.5% min), request up to 6% in seller concessions, and get a comparably or greatly lower interest rate. See if you can go FHA.
If seller will allow it, and so long as there are no serious structural, plumbing, electrical, or heating issues, flip this to an FHA loan and you will avoid the Conventional requirements you stated, play a lesser down payment (3.5% min), request up to 6% in seller concessions, and get a comparably or greatly lower interest rate. See if you can go FHA.
Carl Henker,
Mortgage Broker or Lender, 95928
The property will need to meet health and safety requirements, needs to be live-able. Vanity and stove will need to be in place before the close of escrow the fridge is optional. The appraiser will note the health and safety issues and the Underwriter will condition for installation prior to close.
