Christopher…, Home Buyer in Philadelphia, PA

Would an FHA lender even dare go near a house that only needs moderate work?

Asked by Christopher Sawyer, Philadelphia, PA Sun Jul 11, 2010

In two rooms, and the seller isn't going to make any concessions... would most FHA lenders say "hell no" and tell the buyer to forget it?

Help the community by answering this question:


Hi Christopher, If it isn't the bathroom or kitchen that needs work, you may still be able to get traditional FHA financing. If it definitely needs this work completed to be considered habitable by an FHA appraiser, then by all means, you can take advantage of the FHA 203 (K) programs. It seems everyone here, has given you good advice. It is a matter of looking at all your available options and then choosing the one to best fit your needs at this time.

Ed Dubinksy, United Capital Lenders, has been successful in securing FHA loans for many of my clients. Feel free to call him at (215) 808-5353 with any questions. He will be very helpful in laying out the various mortgage options currently available for you.

If I can be of assistance in helping you find and/or negotiate a great deal for you, please call me anytime.
Good luck in your home search/purchase.

All the best,
Larry Lichtman
REALTOR, Property Manager
Your Real Estate Resource For Life
CELL (267) 254-7994
2 votes Thank Flag Link Mon Jul 12, 2010
in a arms length transaction, you may be able to negotiate the chaanges you need to be able to qualify. sometimes in foreclosures, you might need to be willing to pay those changes yourself prior to closing....if the deal is good enough and you have discussed the implications with an atty, you may consider it
0 votes Thank Flag Link Sun Aug 28, 2011
You have been given good advice by some of the others. You can look up resources at and learn about fha financing.
Web Reference:
0 votes Thank Flag Link Tue Jul 13, 2010
Hello Christopher,

You can do an FHA 203k Loan and if it is less than $30,000 in repairs you can do a streamline version of the FHA 203k which is much easier and simpler to do. If you would like to apply for this loan feel free to call me at 610-906-3109.

John Thomas
Certified Mortgage Planner
Primary Residential Mortgage
302-703-0727 DE Office
610-906-3109 PA Office
0 votes Thank Flag Link Mon Jul 12, 2010
It really depends on the work to be done. Some things FHA doesn't care about as much as you may think. With the exception of a few items, FHA changed their appraisal standards a few years ago, and they are very similar to conventional appraisal guidelines now. One thing that FHA cares very much about is chipped and peeling paint in houses built before 1978 because of the possible presence of lead based paint. They are also concerned about items that could affect the health and safety of it occupants.
If you want to stick with a standard FHA 203b loan, I would advise you to review the home inspection report with the lender to see if there are any items that he/she believes would be required FHA repairs. If so, you could also do the repairs, not just the seller.
If you want to go the route of FHA 203k, the repairs are typically more substantial, even for a streamline k. In that case, if you haven't had a home inspection done, it may help to hire a home inspector who is also an FHA 203k consultant.
Ed Fallon
Arlington Capital Mortgage
0 votes Thank Flag Link Mon Jul 12, 2010
As others have suggested, the FHA 203k loan does provides money for both the purchase and repairs/renovations. There is additional effort involved, more up front cost, and you need a mortgage officer with 203K experience to avoid turning what can be a fairly simple process into a nightmare. You didn't say what kind of work is needed. Some things that you would want to change will be acceptable to the regular FHA loan, and some will not. Your Buyer Agent and your Mortgage Officer should be able to give you some guidance regarding the particular property you are considering.
0 votes Thank Flag Link Mon Jul 12, 2010
Hi, Christopher.

FHA 203K, all the way. If you need to speak to a good lender in the Philadelphia area, please let me know.

Good luck!


Timothy M. Garrity | Brown McKinney Real Estate, Co.
Real Estate Professional & Consultant Email| Website
215-825-2250 x 1007 Office | 267-879-2716 Mobile | 267-519-5490 Fax
0 votes Thank Flag Link Mon Jul 12, 2010
Christopher I helped buyers purchase a home with a gutted kitchen and bath with a FHA 203k loan and they were very happy. A 203k loan will enable you to wrap the repair costs into the loan following the FHA guidelines. Be aware not all FHA lenders offer the 203k product so you may have to get a referall from your Realtor®.
0 votes Thank Flag Link Mon Jul 12, 2010
FHA 203K. Ask your lender about it. It provides $ to do work on the home. If it is just carpet and paint you can go normal FHA. Check out our blog for things to look out for with FHA. I posted one recently.
0 votes Thank Flag Link Sun Jul 11, 2010
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