Tag Archives: repair credits

Repair Credits-What You need to Know about New Non-FHA Lending Requirements

In the past, when there was an issue with a home, such as a necessary repair that was noted at the final walk through, it was common practice to simply work out credits at the closing table to take care of such matters. Today, that situation has changed and a number of lenders are now refusing to allow repair credits at the closing table. Additionally, some lenders are now requiring that repairs noted on the inspection report be completed prior to the loan being funded. The home buying process is one that can already be somewhat stressful, particularly for first-time … Continue reading

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