FHA Loan on house that doesn’t pass inspection. When do you do the repairs?


I am in the process of trying to finance a house with an FHA loan. I am concerned about the peeling paint on the exterior. If it doesn’t pass appraisal, do I get rejected on the mortgage or do I just have to agree to repair it within a given timeframe?
I was thinking of doing a 203k, but the bank I have been working with doesn’t do them.

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2 thoughts on “FHA Loan on house that doesn’t pass inspection. When do you do the repairs?

  1. if you wrote the offer correctly and the house’s condition actually is refused by FHA, either the sale will be canceled or the seller will have to do the repairs before closing.

    if all that is found in inspection is peeling paint, i doubt you will be rejected.

  2. If the FHA appraiser notes it as a required repair it will have to be done before closing unless HUD is the seller or you are getting a rehab FHA loan (which you specified that you aren’t). If the seller refuses to do it, you can back out of the contract without penalty assuming you have a financing contingency in place in your contract.

    As someone else mentioned, the peeling paint, unless it is extreme and revealing extensive rot, probably won’t be an issue for the appraiser. They have become much less stringent on the condition requirements for FHA in the last 2-3 years.

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