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Arizona FHA Loans: Home Repairs, Which Ones Are Required?

February 11, 2009

We have received the “more-than-normal” questions about the FHA 203k streamline program recently – probably due to the high numbers of bank-owned properties that are currently for sale all across the valley.

If you have been shopping for homes, it is no mystery that when a property is currently owned by a lender, often times, it needs a “little bit of work”. How do you know if a property will pass an FHA inspection for a “regular” FHA loan? Well, if it needs a “little bit of work” and the work entails one of the things below, your property will probably qualify as-is for a “regular” FHA loan because these are considered cosmetic things.

Arizona FHA Loan Cosmetic Repairs

  • Missing Handrails
  • Cracked or damaged exit doors that are otherwise operable
  • Cracked window glass
  • Defective paint surfaces in homes constructed post 1978
  • Minor plumbing leaks (such as leaky faucets)
  • Defective floor finish/covering
  • Evidence of previous (non-active) wood destroying insect/organism damage
  • Rotten or worn-out counter-tops
  • Damaged plaster, sheet-rock or other wall and ceiling materials in homes
  • Poor workmanship
  • Trip hazards
  • Crawl space with debris
  • Lack of all-weather driveway surface

Does the house you are considering need repairs? Are they considered cosmetic or something “more than cosmetic”? If they are more than cosmetic, it doesn’t mean that you can’t get an Arizona FHA loan, it just means that you will want to look at the FHA 203k streamline program as one of the best options available for homes that need a little more work done than just cosmetic work.

Filed Under: Arizona Home Financing Options, FHA Loans, Miscellaneous Fun Tagged With: Arizona FHA 203k Streamline, Arizona FHA Loans, FHA 203(k) Program

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