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Updated over 7 years ago on . Most recent reply

User Stats

4
Posts
3
Votes
Samuel Rushing
  • Choctaw, OK
3
Votes |
4
Posts

Conventional financing with a roof leak?

Samuel Rushing
  • Choctaw, OK
Posted

I am looking to purchase a fixer-upper to flip. It has a small roof leak that has been temporarily patched, but caused some drywall damage in the kitchen. I don't want to use hard money if I don't have to.

Will this home qualify for a conventional mortgage? Will  it be insurable? I was told I might have to put money for the repairs in escrow at closing, but I am hoping to do the repairs myself. 

Any advice would be appreciated :-)

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