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From what I've seen it depends a lot on the kind of loan. I bought a house with a conventional loan earlier this year and I don't think the appraisal even looke
by DSMan195276 5y ago
From what I've seen it depends a lot on the kind of loan. I bought a house with a conventional loan earlier this year and I don't think the appraisal even looked at any of the potential issues (Despite at least a few thousand in repairs identified by the inspection). But I also know someone who used an FHA loan to buy a house and they couldn't get the loan unless the house passed a pretty detailed inspection.
- bombcar 5y agoFHA loans are 0-5% down - conventional are 20%. 20% covers a lot of repairs if they have to repossess and sell at a loss; 0% covers way less.