HUD Home, 203B Loan, and Lead Based Paint
Hello everyone, I have an offer on a HUD home which was accepted, however their was mold in the basement. This made me first switch my loan from USDA, to 203B to remove the mold. I have gotten an estimate on the mold removal for $2000 which is fine, however now I have learned that HUD will have to do a Lead Base Paint inspection. The house was built in 1900 so I am sure there is lead based paint. I guess my question(s) are how thorough do they test? Also if the previous owners have painted over the lead paint, should I be alright? I did look around the house, and it appears that there is new paint in every room of the house, and only one room has some cracked paint. There is also a front deck which has chipped paint. The deck is approximately 4x8. We were told that if the estimate for fixing the paint is under $4000 we should be alright. If anyone has any input or feedback that would be great! Thanks, I can provide more details in asked.