Securing FHA Financing – What you need to know.

white paint chips

Image by zen via Flickr

FHA loans are a very popular choice for first time home-buyers and as a result I think its important to share a huge tip!  Before financing can be secured a home must be appraised to be sure that it will be worthy of financing.  When the FHA inspector visits the home they will note what repairs must be made in order to meet minimum FHA standards.

The inspector will look for peeling or chipped paint and if the home has this, these must be fixed before an FHA loan can be funded.  As a seller it is important to be appealing to first time home-buyers so fixing peeling or chipped paint is a simple way to make sure that FHA financing can be secured by potential buyers.

I recommend painting all surfaces in which you find peeling or chipped paint, prior to putting the home on the market.  By acting in a proactive way, you are allowing more buyers to look at your home as their next home.  Being able to secure FHA financing the first time will also save a re-inspection fee as well.

Paint is a really economical way to freshen the look of your home and allows more first time home-buyers to be interested in your home so why not give those surfaces a fresh new look that will bring in those buyers!

Looking for an agent to buy or sell your home, please contact me at 651-214-1459.  Kim Woehl – Keller Williams Premier Realty.  Let me work for you!

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2 thoughts on “Securing FHA Financing – What you need to know.

  1. […] Securing FHA Financing – What you need to know. (midwestliving.wordpress.com) […]

  2. […] Securing FHA Financing – What you need to know. (midwestliving.wordpress.com) […]

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