Redfin

APRIL 11, 2025

But with renovation costs on the rise, demand for move-in-ready homes is starting to outpace that of fixer-uppers. Getting pre-approved for a mortgage will help you understand what you can afford. Government-backed loans : Low or no down payment loans that can be particularly beneficial for starter home buyers.

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Marketing Land Equity Loans 35

HomeLight

JULY 31, 2022

While an appraisal is not in the same category as the more in-depth home inspection, different mortgage types (such as conventional loans or government-backed FHA , USDA, or VA loans ) have different minimum property standards. How does a buyer’s loan type affect minimum property standards? Unpermitted work.

Closing 98

Closing FHA loan Purchase and sale agreement Inspection 98

Norada Real Estate

JUNE 22, 2022

They usually buy them at REO auctions, renovate them and rent them out to the tenants, before putting the property on the market for sale. Shortage of any of these factors could make you not pre-qualify for a loan. Importance of Loan-to-Value Ratio For Financing Turnkey Rental Properties.

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Finance FHA loan Investor Loans 96

HomeLight

AUGUST 20, 2021

The appraisal is a crucial step in the closing process; your home must appraise for equal to or more than the sale price for the buyer’s lender to approve their mortgage. Ford shares an example: “In California, pre-1978 and pre-1992 housing were of lower quality. Pre-1978 did not require any corner sheer panels.

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FHA loan Inspection Pre-approval Loans 105

HomeLight

MARCH 13, 2023

With the strong Florida sun shortening the lifespan of roofs and air conditioning systems, costly renovations may be necessary. A cash buyer relieves them of the headaches of renovating and listing the property. Many people who contact Reiner have older homes that haven’t been updated. For a rental, not as much,” explains Joseph.

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Sales Investor Due diligence Renovation 98

HomeLight

MAY 19, 2022

Consider a pre-listing inspection. A pre-listing home inspection is the same as a standard home inspection except that the seller pays for it before listing their home on the market. Not every buyer who has an approval letter will get to the finish line.”. Be aware of minimum property standards for certain loans.

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As-is Inspection Investor Closing costs 119

Redfin

MAY 2, 2023

Additionally, it’s important to review your credit report and score, as these can impact your ability to get approved for a mortgage and affect your interest rate. Colorado has several first-time homebuyer programs that can provide aid, such as the CHE Down Payment Assistance Loan , which offers up to $10,000 in down payment assistance.

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Pre-approval FHA loan Loans Finance 66

HomeLight

MAY 23, 2022

It’s worth noting there are many buyers out there looking for a renovation project. It’s worth noting there are many buyers out there looking for a renovation project,” says Muncey. “So, Consider a pre-listing inspection. That being said, a pre-listing inspection isn’t a necessity.

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As-is Inspection Sales Investor 111

HomeLight

APRIL 11, 2022

An appraiser looks at the age of the home, the square footage, the layout, the location, utilities, and various upgrades or renovations. However, some lenders appraising homes for VA loans or FHA loans will require an appraiser to note particular items on a property, such as chipped or peeling paint, or a lack of handrails on stairways.

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Loans Pre-approval Inspection Agents 111

HomeLight

JUNE 30, 2021

Because USDA loans require little to no down payment, you can expect to pay an upfront insurance premium, between 1% and 2% of the loan amount. Borrowers are expected to pay a fee of about 0.35% to 0.40% of the loan amount throughout the year. VA loans are backed by the U.S. of the loan’s total value.

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VA loan FHA loan Mortgages Closing costs 94

HomeLight

JANUARY 12, 2022

Broken down by type of loan, you can expect the following: . Conventional loan. And in some scenarios, the seller won’t be required to attend in-person if they pre-sign the deed and other documents. So if you list your home on Jan. 1 and accept an offer on Jan. Average time to close. Source: (Max Nüstedt / Unsplash).

Closing 116

Closing Purchase and sale agreement Pre-approval Inspection 116