If you've been told that the property your looking at can not be financed using the FHA program, it may be due to the Soundness, Sustainability or Safety of the property.
The most common items that may or may not cause underwriting concern are:
Missing handrails, damaged exit doors, cracked windows, defective paint in homes constructed before 1978, plumbing leaks, defective flooring, pest infection, rotten kitchen surfaces, damaged walls, poor workmanship with the general construction, trip hazards, crawl space debris, lack of an all weather driveway,
Items that are more serious in nature are:
poor exits and entrances, faulty roof, structural problems, obsolete electrical/plumbing and utilities not turned on to evidence function.
If you are looking at a home with deficiencies, you may consider an fha 203k or ks loan: www.realestateloans.com/203ks.ppt
www.realestateloans.com/fharepairs.pdf
Take care.
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