Would part of a shingle roof (that was deemed end of life) but functioning fine need repairing in order for FHA loan to go through?

Asked by Molly, Milwaukee, WI Sun Aug 11, 2013

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Sun Aug 11, 2013
I am not familiar with your exact scenario but in general yes the roof would need to be replaced unless a roofing specialist was willing to state that the whole roof has 3-5 yrs of life left. If the roof is bad and at the end of its life and the seller is not willing to replace the roof you can always look at a renovation loan for the property which allows you to close As-Is and have money set aside in escrow for the roof to be replaced after closing!

Please contact me if you would like to discuss your situation further.

Sincerely,
Mandy Fritsche, Prospect Mortgage, Mortgage Loan Officer, NMLS# 557211
262-327-5700 Cell, 877-868-9198 Fax, mandy.fritsche@prospectmtg.com
http://www.MyProspectMortgage.com/mfritsche
2 votes
Matthew Heit…, Agent, Stoughton, WI
Mon Aug 12, 2013
Yes, great answer Mandy!

Best of Luck!
Michael Collins- CDPE, SFR, BPOR
Broker - Rock Realty
608-921-8536

My Trulia Blog:
http://www.trulia.com/blog/RockRealty/
1 vote
Eric D Lenz, Agent, Greendale, WI
Sun Aug 11, 2013
The answer from Mandy below is about as good an answer that you can get. Go with it.
1 vote
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