Based on your income and some rough estimates, you can only spend $3400 per month on ALL of your mortgage payments, auto payments, and minimum monthly payments on credit cards. Please give me a call if you would like to over your qualification for a new mortgage in detail
Glen S Etherington, NMLS #346658
The lender wants to ensure the collateral (the property) is in a condition to where the property will retain the appraised value in the event they need to foreclose & sell the property. That said, the appraiser may have comments in the appraisal stating that the value of the home is subject to these items being replaced &/or repaired.
I have to say I think it is very unusual for the stained carpet to be replaced. Maybe a possible mold issue?
I would be asking your lender why this is a funding condition & why its just coming up now.
Good luck on a successful purchase,
Roswell Moore, CMPS
NMLS ID 263779
Certified Mortgage Planner
480-422-5095 direct... more