Most first-time home buyers seek an FHA-insured loan when purchasing their home. A few weeks ago, I blogged about Understanding FHA Insured Loans in which I mentioned very briefly the minimum property requirements necessary to be approved for the loan.
Below you will find excerpts from HUD Mortgagee Letter 2005-ML-48 regarding repair and inspection requirements, which I hope would be helpful to buyers as they consider potential properties.
“FHA Repair Requirements: Below are examples of minor property conditions that no longer require automatic repair for existing properties include, but are not limited …