Can I Put Appliances In A Home To Ensure That I Get Fha Funds?
Saturday, June 20th, 2009 at
9:24 pm
I am interested in buying a home that I really like but I need to use standard FHA funds because of the amount of program grants and whatnot I will get using this program vs the 203 programs.
The fridge is broken and that would fail the inspection but I would hate to miss out because of such a cheap fix is there any way that I can put the necessary appliance in the home?
Tagged with: Appliances • Ensure • Funds • Home • That
Filed under: home inspection
I would recommend that you go half way on that idea. Move the old one out. The inspection should not be interested in a broken fridge. But by all means get it out of the way and clean up around it. Then you can move on to worry about other things.
How do you know the seller won’t correct the issue? Plus, if they’re selling with such an obvious issue, what makes you think there aren’t other that FHA would also not allow?
If I were you, I’d have my buyer’s agent submit an offer contingent on inspection and financing and then once FHA comes out to do their inspection, see what the seller is willing to repair.
Just make sure the seller is willing to accept FHA. Some will only work with conventional loans for this very reson.
FHA loans are a REAL pain in the butt… I would do everything you could not to use them.
The seller would probably let you put in working appliances, but keep in mind if the deal falls through or they get a higher offer, that becomes the current owner’s property.
A working fridge shouldn’t impede you obtaining financing. Many homes are purchased through FHA without any appliances.