How can I lower my monthly mortgage payments?

So, you’ve had a home for awhile, but you feel like your budget is just too tight. You scrimp and save, but it’s never enough. If the biggest expense you have is your mortgage, maybe it’s time to refinance your mortgage.

Refinance to a lower rate

Rates are very low. Right now, for a 30-year mortgage, the fixed rate can be as low as the high 3’s to low 4’s. Fifteen-year loans may even be in the high 2’s. Refinancing may be a great way to lower your overall mortgage payments by dropping your interest rate. This could help to save you thousands over the life of your loan. If your interest rate is over 4.5% now is a great time to review refinance options.

Drop your PMI

The only type of mortgage where Private Mortgage Insurance (PMI) drops off when you have 20% equity is the Conventional loan. Other types of loans, like the FHA, require PMI for the life of the loan. PMI usually costs 0.5 or 1% of the entire loan. It protects the bank from defaults. For you, it’s an extra cost — one that, once you’ve paid off 20% of the original loan value, you can refinance to remove. While it may not seem like a lot of money, 1% of a loan over the life of a 30-year mortgage can really add up over time. 

Extend your mortgage term

One reason folks often have trouble paying their monthly mortgage is that they think that a 15-year term is better than the 30-year. While it’s true that a 30-year mortgage takes longer to pay off, the monthly payments are lower. If your goal is a lower monthly budget, switching from a 15 to a 30-year will certainly do the trick. The only downside is the term of the loan is longer if you pay the minimum payments.

Also, if you already have a 30-year mortgage and refinance to a new one, you could still reduce your monthly payments.

Refinance from an FHA loan to a Conventional loan

You may have started with bad or low credit when you initially bought your house and had an FHA loan as the result. Or maybe you didn’t have enough money for a larger down payment. As your credit improves, you could have an opportunity to refinance your loan to a conventional mortgage. There are two advantages when refinancing an FHA to a Conventional loan: First, you could get rid of the Private Mortgage Insurance payments if you’ve paid 20% of the mortgage. Secondly, the interest rates for a Conventional loan may be lower than they are for FHA loans.

If you are thinking about refinancing your mortgage, contact one of our professional loan officers at 800-555-2098 to schedule an appointment. We can sit down and look at your financial situation and help you figure out the best way to lower your monthly mortgage payments.

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VA Loans for Reservists and National Guard

As a Reservist or member of the National Guard, did you know that you could be eligible for a no down payment VA Loan? If you’re thinking about refinancing or buying a house, maybe you didn’t even realize the VA Loan could be an option for you. Although your role is different than that of a regular military member, you are still eligible to receive VA Loan benefits, with a few different qualifications. Here’s what you need to know.

VA Loan Requirements

The VA Loan was created to help veterans purchase homes, and the U.S. government provides a loan guaranty on it. It is a zero down-payment home loan with more flexibility and lower payments than conventional loans, which require 20% down. The VA Loan is only available to U.S. veterans and current military members — and that includes Reservists and National Guard.

VA Loan requirements for Reservists and National Guard are a bit stricter than those for regular military members. To be eligible for a VA Loan, you have to meet at least one of the following qualifications:

  • Six years in the Selective Reserve or National Guard, and you must have either been honorably discharged, retired, or transferred to the Standby Reserve or an element of the Ready Reserve
  • 90 days of active duty service during a wartime period
  • Discharged or released from active duty service for a service-related disability

VA Funding Fee

When you take out a VA Loan, you will have to pay a funding fee, which goes to the VA to help offset the cost of any loans that end up in default. If you have a service-related disability and are currently receiving disability compensation or are entitled to it, you would not have to pay the funding fee.

Related: Use our VA Loan Calculator to estimate total mortgage payments and VA guaranty fees!

The difference for Reservists and National Guard members is that the funding fee is slightly higher than it is for regular military members. If you take out a VA Loan with zero down, as a regular military member, you’d have to pay 2.15 percent for the first loan and 3.3 percent for any subsequent loans. As a Reservist or National Guard member, your funding fee would be 2.4 percent for the first loan and 3.3 percent for any subsequent loans.

If you have a 5-10 percent down payment, as a regular military member, you’d pay 1.5 percent funding fee for the first and any subsequent loan. With a 10-20 percent down payment, you’d have to pay a 1.25 percent funding fee for the first and any subsequent loan.

With a 5-10 percent down payment, as a Reservist or National Guard member, your funding fee would be 1.75 percent for the first and any subsequent loan. With a 10-20 percent down payment, your funding fee would be 1.5 percent for the first and any subsequent loan.

We, at Riverbank Finance, are grateful for our service members and would like to help you own the home of your dreams or refinance on your current home. To find out whether you are eligible for a VA Loan, contact one of our loan officers at (800) 555-2098 to schedule an appointment.

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You’re recently divorced. Can you buy a home?

So, the marriage is over. Does that mean your dream of owning a home is, too? The short answer: No! You can still get a loan, as long as you keep in mind the following:

Keep Good Records

This is usually a good practice to have for any person, but especially true if you are recently divorced and are buying a home. Make sure you also keep your records updated. Keep a copy of any checks you’ve paid to show that you’ve paid your debts and bills in time. Any new addresses or changes in income also need to be recorded for when you meet with a loan officer.  

Behave Yourself

The urge to “get back” at the ex is not uncommon, but very bad if you’re trying to get a loan. A new criminal conviction (for verbal threats, violence, or slashing tires) will definitely hurt your chances. A more common and petty way that spouses get revenge are things like not paying a bill at the home you no longer occupy or using the credit card in excess to hurt your ex’s credit. Typically, that hurts both of you and could also count as FRAUD. Don’t do it!

Pay Your Bills

If you are legally obligated to pay a bill, alimony, or a rental agreement, do it. If you feel the child support is too high or unfair, pay it anyway. Failing to pay those hurts your credit and makes you look like a bad investment. So, it’s always good to make sure that all bills are paid on time.

Know Your Worth

Properties or vehicles that need to be sold, spousal support, and child support can all help you get a mortgage if you benefit from them. You can count spousal and/or child support as income toward paying a mortgage. So, while you might be going from a two-income household to one, it may not be as bad as you fear. (Side note: it’s always good to inform the lender how long you expect the child support income will last.)

Be Vigilant

Even though you might behave yourself, your former spouse might not. Check your credit score to make sure they don’t make charges in your name. As much as it is in your power, be sure any payments the ex makes, per the divorce settlement, are in time.

Explore Your Options

Moving out of a shared home that you love doesn’t have to be the solution. If you and your ex agree that you can keep your current home, refinancing options are available that can separate a joint loan. Speak with one of our experienced loan officers today about this and more options for divorcees.

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What to do when you’re facing foreclosure

If you’re facing foreclosure, you’re not alone. According to RealtyTrac, 1 in every 3,426 homes in Michigan are being foreclosed in 2017. Muskegon is the worst county for foreclosures in the state, with every 1 in 1,063 homes being foreclosed. What should you do when you’re facing foreclosure?

Communicate with your lender

Your first instinct may be to avoid your lender. But honestly, the best thing you can do is contact them and find out about your options. We at Riverbank don’t want to see you default on your mortgage. If you’re in danger of facing foreclosure, contact us right away to set up an appointment with one of our professional loan officers. We can help evaluate your situation and figure out the best solution for you, as long as you’re committed to saving your home.

Know your rights

Make sure you understand your rights as a homeowner, and what your lender can and can’t do if you default on your mortgage, by reading through your loan documents. Contact the Michigan State Housing Development Authority toll-free at (855) MI-MSHDA   (1-855-646-7432) to find out about foreclosure laws in your area.

Be money-wise

If you’re in danger of falling behind in your mortgage payments, reevaluate your budget. Besides your own health, keeping the roof over your head should be the highest priority. Is there anything in your budget you can cut or reduce, such as cable TV or other entertainment expenses? Can you call your student loan company to find out whether you can delay payments due to hardship? Can you pay the bare minimum on credit card debt until you’re all caught up with your mortgage?

If you have an extra car you’re not using that often, you could sell it to make some extra money to pay toward your mortgage. Could you or someone in your family take an extra job temporarily? Even if you don’t make enough to catch up with your mortgage payments, at least your efforts will show the lender you are serious about saving your home.

Get foreclosure assistance

The U.S. Department of Housing and Urban Development recommends that you get assistance as soon as possible. Whether you’re in danger of missing a mortgage payment or have already missed several, make sure you are regularly communicating with your lender. Help is available. Contact a HUD-approved housing counselor to discuss your options by calling toll-free, (800) 569-4287. There are federal government programs that can help you prevent foreclosure.

The state of Michigan also has a program called Step Forward, which was created in 2010 to help those who are in danger of foreclosure. Since its inception, Step Forward has given more than $307 million to 34,567 homeowners in the state of Michigan, according to the Michigan State Housing Development Authority. The program still has $40 million available to struggling homeowners until it expires in 2020, MLive.com recently reported.

The way the program works is that homeowners can get a five-year, zero-interest loan of up to $20,000 in the form of a lien against their property in order to help pay back debts. To be eligible, you must have less than $10,000 in savings and prove that you can pay all of your future mortgage payments, condo or homeowners association fees, and taxes. To find out whether you qualify for Step Forward assistance, go to stepforwardmichigan.org or call (866) 946-7432.

Be sure to contact us right away at Riverbank Finance at 800-555-2098 if you think you might have to miss a mortgage payment. Our professional loan officers can help you evaluate your options.

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Could you save money using an automated appraisal?

Much of our world is becoming automated. It should be no surprise that this is also true of the housing and mortgage industry. While some automation changes are feared, this change will be good for the mortgage lender and the mortgage seeker alike.

The Rules Have Changed

Fannie Mae and Freddie Mac have revised their rules for appraisals this past June. While it only affects first and second homes at the moment, it will likely go into other areas of borrowing in the near future.

What has changed? Fannie and Freddie are both accepting of AVMs, or Automated Valuation Models, for mortgages. During the housing crisis of 2008, too many homes were being overvalued by appraisers, which was a contributing factor to why the bubble burst. By using more AVMs, the appraisal process is less costly for everyone involved and more objective.

How does an AVM work?

AVMs use something called “appraisal analytics” to model the value of the home based on data on the region, tax assessment value, prices homes similar in the area, previous appraisals, and any information on improvements to the home, like adding a garage or a deck, that’s on record.

How do AVMs help mortgage borrowers?

The immediate benefit is there is no appraisal cost. Appraisals can average anywhere from $200-500. This also speeds up the home-buying process overall. What proponents of the new system like is that regardless of who inputs the data, the outcome is based on facts. So there’s a much lower risk of home prices being inflated during the mortgage process.

Is there a catch?

There’s often a drawback in removing a human element to a process. Appraisers actually do set foot in the home to check things out. AVMs don’t. So while it saves money and time, there’s also the risk of missing something key that could be wrong with the home in question. An algorithm can’t smell mold, for example, or notice if a support beam is weaker than it ought to be for its age. The data also takes a long period of time to compile. So the home’s valuation could be three or six months old, which could be significant or not, depending on housing market stability.

Is AVM right for me?

That answer could go either way. AVMs have been around for several years. Initially, some were concerned that homes were being either undervalued or hyper-inflated, but the data has remained consistent. Of course, there is the value of the human element being “hands on” in the appraisal. It’s best to have a conversation about the cost benefit of using an AVM with one of our loan counselors who can help explore the options with you.

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Can I get a co-signer for a home loan?

Things to avoid when buying a home in Michigan.

If you want to buy a house, you have to meet certain requirements in order to secure a mortgage. What if you do not meet the requirements for income and credit history? The good news is you can ask someone to cosign on your loan, even if they won’t live at your house. Here’s what you need to know about having a cosigner on your loan.

Who can be a cosigner on my loan?

Depending on what kind of loan you are applying for, you’ll have to abide by certain regulations on who can serve as a cosigner.

With a conventional or FHA loan, you may ask your spouse, a relative, or anyone who’s going to co-own the home with you to cosign the loan. The cosigner will need to sign an application and provide full financial information to your mortgage company.

Conventional Mortgage Cosigners

A cosigner on a conventional loan may be beneficial to help get your loan approved. The cosigner will have to be related or have a close familial relationship with you that can be clearly documented for underwriting.

FHA Mortgage Cosigners

A cosigner for an FHA loan may help to get your loan approved. Similar to Conventional mortgages, the cosigner must be related or have a documented close relationship. The cosigner may be a non-occupying co-borrower meaning that they do not have to occupy the property as their primary residence to qualify. FHA cosigning example: Mother or Father cosigning for this child’s first home.

VA Loan Cosigners

If you’re applying for a VA loan with a cosigner, the requirements are a little different. If you are married, the cosigner must be your spouse. If you are not married, the cosigner can be another unmarried veteran who’s eligible for the VA Loan. You can ask a civilian (such as your parent or significant other) to cosign the loan, but the guaranty will only apply to your portion. That means you will likely need a down payment on the loan.

What are the requirements for a mortgage cosigner?

Before you ask someone to cosign on your loan, make sure the person has a good credit history and adequate income. Otherwise, they’re only going to hinder the loan process for you. For example, if you did not make enough income to qualify on your own, your co-signer will need to make enough income to cover their own liabilities and also add enough income to make up the difference for you.

Cosigner Requirements:

  • Good Credit History
  • No recent bankruptcies or foreclosures
  • Good Jobs History
  • Low expenses
  • Documentation of Income
  • Relationship to you

Remember, the cosigner is just as responsible for paying the loan as you are. So if you default for any reason, they will have to make the mortgage payments.

Why won’t a cosigner help get my loan get approved?

Getting a cosigning on a mortgage allows you to qualify based off your joint income and credit history however all applicants must meet the minimum criteria for approval. Generally speaking, when an underwriter reviews your file, they will go of worst case scenario. This means that if your credit score is too low to qualify, getting a cosigner will not help you because the qualifying credit score would still be yours.

A cosigner will not be helpful if you did not qualify for financing independently due to major derogatory events such as a recent foreclosure or bankruptcy. The wait times for these major credit events is based off the most recent event date. All parties applying for financing must meet the minimum credit scores and wait periods to be eligible for financing.

How can I get a loan without a cosigner?

If you can not find someone who can (or will) be a cosigner for you, or you do not want to ask anyone else to share responsibility for your loan, the lender will require you to fix your credit history and/or increase your income before you can acquire the loan. You may still be eligible for loans with flexible credit such as low credit FHA mortgages.

To improve your credit, you may want to take out a small line of credit that you can repay to build positive credit history. You should also check your credit report to find out if there are any errors. You can correct those by contacting the creditor or going straight to the credit reporting agency.

You could also work on saving more money toward a down payment so you can borrow less on your home loan or have a larger down payment available which may help with loan approval. Another way to improve your chances of getting the loan is to pay down your debt, including your student loans to lower your current monthly expenses.

If you are not sure whether you need a cosigner, contact Riverbank Finance at (800) 555-2098 to make an appointment with one of our professional loan officers. We can help review cosigner options for all of our mortgage options.

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How High Will Interest Rates Go This Year?

Mortgage interest rates have been slowly increasing since they plummeted following the 2008 financial crisis. Twice this year already, the Federal Reserve has raised interest rates, which, in turn, raises the rate at which banks loan out money for mortgages. But are they done raising rates this year, or could more hikes be on the way?

Will the FED raise interest rates?

Here’s a few ways you can tell a rate increase is on the way:

  • Language of the FED. This past week on Wednesday, the Federal Reserve met and decided not to raise rates this month but indicated that a raise is “coming soon.” Most analysts take the language in that statement to mean before the end of 2017, another increase will be on the way, possibly as soon as September.
  • How markets reacted to the last increase. Instability in the marketplace often translates to more caution on the part of the FED. According to their own account, the last increase went with little to no instability.
  • PCE. Personal Consumption Expenditure, or PCE, is the FEDs favorite measure of economic health for the economy. Two-thirds of all economic spending (or growth in the FED’s mind) is measured in this index.
    • While this acronym is pretty simple, the index itself is multi-faceted. It Includes “Durable Goods,” like cars and houses; “non-durables,” like food and clothing; and services.
  • Inflation. Inflation is the rising cost of goods and services. Usually this happens for three reasons:
    • Wages are increasing, thus making things more expensive to make and sell. (The average wage for an employee in Grand Rapids, Michigan, falls around $45-50,000 annually.
    • Increased demand, due to credit being more accessible.
    • Government monetary policy (printing money).

How Much Will Interest Rates Rise This Year?

Interest rates before the economic crisis in 2007 were around 6.5%. Currently interest rates are at 1.25%. At the beginning of the year, the FED had hoped to get the rate back to 2%, but, at the last meeting, FED officials revised that to 1.5% due to the size of economic growth this year. We are growing, but slower than they forecasted.

What are current mortgage rates?

Mortgage rates have been hovering around the 4% range for 2017 for a 30 year fixed rate mortgage. The rates for home loans shot up to the mid to low 4’s at the beginning of this year but have slowly dropped back down to the range it has been at for the past few years.   The exact mortgage rate will depend on your specific situation including loan amount, loan-to-value ratio, credit score and loan program.

Related: Current Mortgage Rates

Should I buy a house before interest rates go up?

Interest rates will likely not rise to 2% this year. That doesn’t mean the FED won’t try to reach that goal next year, or perhaps go even higher than that. So, while rates are slowly rising, they are still lower than they were ten years ago for those searching for a mortgage.

For West Michigan, the rates being this low means an increase in demand for new homes. While rates have ticked up, the housing boom hasn’t slowed. If you want to take advantage of interest rates before they rise again, speak with a loan officer about your mortgage options. Call Riverbank Finance at (800) 555-2098.

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How to Prevent Buyer’s Remorse

Forty-four percent of homebuyers end up regretting their purchase, according to a recent study by Trulia, a residential real estate website. The biggest regret? Not buying a larger home. If you’re entering into the home-buying process, you may be tempted to settle for less, especially if your budget doesn’t allow for a larger place. But keep these considerations in mind so you can prevent buyer’s remorse:

What should I consider when buying a house?

Don’t go into the buying process without doing some research and making a wish list. On average, Americans have been staying in their homes for 13 years, according to the National Association of Home Builders.

With that in mind, think about what you might be doing over the next 13 years: Will your family grow? Will you need space for an office? Will you need a larger yard for your children to play in? Will your kids be going off to college? Will you be retiring and needing less space? Will you need a one-floor setup for easy accessibility?

Your home is a long-term investment, so don’t just think about what you need now. Buy your home with the future in mind.

How much will my home appreciate?

When you find a home you love that meets your current and future needs, the next step is to calculate its appreciation over the next decade or so. You want a home that’s going to build your net worth, not depreciate over time.

Not sure how to predict whether a home will appreciate? First, consider its location. Choose a home that’s in a growing community and has a reputable school district. Second, consider the house itself and the property it’s on. Is the land desirable and without major issues? Does the house have sound structure (roof, walls, foundation)? Fixer-uppers can actually appreciate more than newly constructed homes if you’re up for the task of renovating, providing they don’t become a money pit in the process.

Did I get the best home loan?

When you buy a home, there are several types of home loans that you can consider.  If you have a large down payment over 20%, you may have selected a Conventional Mortgage to avoid PMI. Conventional loans typically have the lowest overall payment if you have higher credit scores and a large down payment. If you purchased using FHA financing, you may want to consider refinancing in the future to drop the Mortgage Insurance. Most FHA loans do not automatically drop this extra insurance premium.

Another consideration would be to confirm that you picked the best rate and cost combination for your home ownership goals.  Many lenders allow you to pay discount points to get a lower than market interest rate. If you consider this your “forever home”, then having a lower rate may save you a significant amount of interest over the term of your loan. Conversely, if you plan on selling your home within a few years you may want to select a loan option with the lowest amount of closing costs so you save money immediately on your purchase. Selecting the wrong home loan may cost you thousands and leave you regretting the extra costs.

See our Mortgage Amortization Calculator to estimate interest paid over the life of your loan.

How much will it cost to sell my house?

In looking toward the future, consider how much it will cost to sell your house. You may need to make repairs and upgrades to make your home more desirable. You’ll also need to pay your realtor commission (unless you’re selling by owner), which is usually 5% or 6% of the home price, and closing costs if the buyer doesn’t foot the bill (especially in a buyer’s market). As long as you plan ahead with these costs in mind, you won’t be surprised when it comes time to sell. If you buy a better house at the start, you may save a lot in the end.

Learn about our Home Renovation Loans to increase the value of your home.

For more information on how you can choose the best home for your needs, contact Riverbank Finance at (800) 555-2098 to schedule a meeting with one of our mortgage professionals.

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Rental Property Quick Tips

You may be interested in rental property as a way to earn extra income, but how should you go about it?

Where to buy?

It’s an old but fitting adage that there are three rules in real estate: location, location, and location. The same is also true for renting out property. You need a good location to attract renters, but there can be pros and cons, depending on where you invest.

For example, if you buy near a university or college campus, chances are you won’t have a problem renting out the place nine months out of the year. The summer months might leave your property vacant while students are no longer in classes.

Other factors, such as how much your competition is charging for their properties, need to be considered. You could find a great deal on a duplex or a quad but find yourself unable to recoup your mortgage and upkeep costs if the area’s average rental rate is too low. You have to think both as a renter and as a prospective tenant to have success.

Crunch the Numbers

Investment properties, like rentals, require a minimum 20% down payment. The money can’t come from large gifts, you’ll need six months of payments reserved in savings, and you have to buy the property as an individual, not an LLC.

Freddie Mac and Fannie Mae also have different rules if your mortgage goes through them. Freddie requires 2 years of documented renting experience on your tax returns in order to list any projected rent as income. Fannie Mae does not.

In addition to all of this, a rental property mortgage also requires that you not have more than a 45% debt-to-income ratio.

All of these factors are reason enough to sit down with a Riverbank Finance consultant to see if you qualify. Contact one of our mortgage officers at (800) 555-2098

Property Management

Another factor that both lenders and owners need to take into account is how the property will be managed. Will it be all DIY? Will you handle finding tenants and hiring a handyman, or will you hire a management firm to do everything but pay the bills? All of these are factors you should consider before you enter a mortgage agreement. It will help you calculate what kind of return your investment will bring back and offer peace of mind to your lender as well.

Plan for bad seasons while hoping for good ones

Let’s face it, your property, at some point, will have vacancies. North Conway, New Hampshire is known for its skiing, mountain trails, and what they call “leaf peeper” season. This means their vacation rentals are full in summer, fall, and winter. Spring can be a vacant season for them for three months if a renter can’t be attracted to come for other activities.

It’s also a good idea to have a rental agreement at least started, if not finalized, to show your lender. That way, on day one of owning the property, you can get to work renting it out with the proper paperwork already done.

Lastly, every renter at some point in their career will experience a delinquent renter who refuses to make a payment. This is why it’s a wise idea to research debt collection agencies to help you recoup the losses.

 

While rental properties do require a great deal of preparation, they can pay off for countless investors who are willing to put in the work.

 

Why You Shouldn’t Buy The Cheapest Home

If you don’t have a lot of money and you’re in the market for a new house, you may be tempted to buy the cheapest home you find with the intention of fixing it up. However, just because a house is cheap doesn’t mean it’s a wise investment. Here are a few things to watch out for when considering the cheapest home:

Less Money, More Problems

The cheapest home is usually cheap for a reason. It’s always wise to hire a professional to inspect the home before you buy it, just in case the house has any serious issues. Ugly paint colors and outdated carpeting are easy, cosmetic fixes, but structural problems could turn your “new” home into a money pit. Why buy an $80,000 home with $20,000 in repairs, when you can buy a $100,000 home that is move-in ready and save yourself the trouble?

Not Livable? Not Approved

When you buy a home with a conventional mortgage, the appraiser will inspect the house to figure out its market value. When you buy a home with an FHA mortgage, the appraiser will inspect the house to find out its market value and to make sure it meets the Federal Housing and Urban Development (HUD) standards for health and safety. That means it has to be livable for everyone moving into the home.

Here are a few things they look for in the appraisal, according to HUD guidelines:

  • They want to make sure that the lot is graded so that any moisture would drain away from the house and not flood it.
  • Bedrooms must have some kind of access to the outside, so that everyone can escape in case of a fire. Bedroom windows are acceptable, as long as they’re large enough for a person to fit through them.
  • Lead-based paint is still present in many homes built before 1978, and it still poses a health risk. If there’s any damaged paint, including peeling or chipping, you’ll have to get it fixed in order for the loan to get approved.
  • Steps and stairways must have handrails.
  • The heating system must be sufficient enough for the home to be comfortable for its occupants and good for their health.
  • The roof must be in acceptable condition, without leaks and moisture, and should be easy enough to maintain in the future.
  • The foundation also must be able to withstand any normal amount of weight placed on it, and it should be in acceptable condition.

Generally, if you’re buying a cheaper home and you know it’s going to need some fixing, just make sure you’re not buying something that’s going to give you more headaches than it’s worth. If you’re going to spend that much money on repairs, you might as well buy a slightly more expensive home that you can move into comfortably.

For more information on the FHA loan or to find out whether the home you’re considering fits the livability guidelines, contact one of our mortgage officers at (800) 555-2098.

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