Asked by Meghan, 20724 • Thu May 28, 2009
We would like to put a contract on a 100 yr old home that needs some work. We're getting a FHA 203k loan to do the rehab. What I'd like to know is -- will FHA/the bank require us to use the loan money to bring the electrical entirely up to code? I'm planning on getting an electrician to give an estimate on what's needed to make it safe, of course. But I'd like to know if it's required or if I can fix it over time.
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