04-08-2012 04:03 PM
Just curious how this works? The home we are most interested in for our family, is a foreclosure at a great price, but a bit of a fixer upper. The broker had mentioned no fixer uppers but I am not sure what is considered a "Fixer Upper" technically. This house will need new paint & carpet, but the basement was sectioned off into a daycare previously & not very well. The walls are here and there & we would definitely want to knock down walls and drywall the basement the right way. Would this be a problem since we are going through USDA? TY!
04-08-2012 07:07 PM
USDA has set requirements that you must meet.
For instance I signed a contract with a house that has no heat and no water heater. This is a NO NO for USDA which I am going with. You will need to make some sort of agreement with the seller to get this to work out in your favor. At least that is what I am trying to do. Ill keep you updated as I only have 4 1/2 more weeks before I close.
04-09-2012 10:06 AM
Ty for your response. Please keep me updated. The problem with this home it's a foreclosure... So, if there is a repair Im sure we'll just be out of luck on this house.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.