Posted on: 18th Apr, 2012 07:14 pm
Hi. Does FHA or USDA loan on homes over 100 years old in great shape that do not need repair?
Welcome jenny,
If the property is in good shape and if the borrower fulfils all the required criteria of the lender, then there shouldn't be any issues in getting a FHA or an USDA loan.
If the property is in good shape and if the borrower fulfils all the required criteria of the lender, then there shouldn't be any issues in getting a FHA or an USDA loan.
Hi Jenny,
Government loans do have habiltat requirements of the home. For FHA there is minimum ceiling heights, steps, door heights, but most importantly, they are concerned with the livability of the home. Is there a heat source, and is there utilities. Peeling paint needs to be repaired and anyother repairs would need to be made on the dwelling that cause a health or saftey issue. The age of the dwelling is ok...Good luck
Government loans do have habiltat requirements of the home. For FHA there is minimum ceiling heights, steps, door heights, but most importantly, they are concerned with the livability of the home. Is there a heat source, and is there utilities. Peeling paint needs to be repaired and anyother repairs would need to be made on the dwelling that cause a health or saftey issue. The age of the dwelling is ok...Good luck
