My daughter and son-in-law have a house they want to bid on but the outside siding has some peeling paint. I believe it is wood siding. Estimate $3000.00 to repainted. Will that disqualify them for a FHA loan? Credit scores are 800 plus. She's a nurse/mom and he has a job with USDA. Thank you.
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Best Expert Answer
That would depend on a variety of factors including the age of the home, state or local building code, etc. but the appraiser may, depending on conditions, recommend corrections rather than rejecting the property out of hand. Corrections are often recommended where the appraiser views the condition as reasonably able to be repaired. Lender standards or state law may also apply.
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