Related FAQs
Yes, we do offer mortgages for the purchase of foreclosed and/or bank-owned properties. However, any required repairs must be completed in a timely manner, and the home must receive a C4 rating or better following its appraisal. We hear you asking: "What is a C4 rating?" In short, a C4 rating is a standardized assessment of a property's condition, born out of a larger initiative to improve the consistency of home appraisals in the United States. "Condition ratings," as they are known, start at C1 and go right through to C6—which designates a property "in need of substantial repairs and rehabilitation." To receive a C4 rating, a home must meet the following conditions: "The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been adequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building components have been adequately maintained and are functionally adequate.". Read more
Yes, we do offer mortgages for the purchase of foreclosed and/or bank-owned properties. However, any required repairs must be completed in a timely manner, and the home must receive a C4 rating or better following its appraisal. We hear you asking: "What is a C4 rating?" In short, a C4 rating is a standardized assessment of a property's condition, born out of a larger initiative to improve the consistency of home appraisals in the United States. "Condition ratings," as they are known, start at C1 and go right through to C6—which designates a property "in need of substantial repairs and rehabilitation." To receive a C4 rating, a home must meet the following conditions: "The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been adequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building components have been adequately maintained and are functionally adequate.". Read more
Learn what FHA stands for, how FHA loans work, and why they’re a great option for first-time buyers with lower credit scores and smaller down payments. Read more
Learn what FHA stands for, how FHA loans work, and why they’re a great option for first-time buyers with lower credit scores and smaller down payments. Read more
Found a duplicate charge for prepaid property taxes on your Closing Disclosure? Learn what steps to take and what documentation you'll need to fix it. Read more
Found a duplicate charge for prepaid property taxes on your Closing Disclosure? Learn what steps to take and what documentation you'll need to fix it. Read more