FHA/Sagging D/T Garage Roof

[Elijah Miller]

Guys, I apologize in advance if this is not the right place for this question.  Please move it to where it'd be better suited.

I have recently found a 4 BR/2BA property that will suit my needs of going back to school and renting out the other rooms perfectly.  I should be cash flowing approximately +$500/mo. However, I have also found one problem though: financing.

This was my mistake, but I contacted Quicken initially to get an idea of what I could afford. I was pre-approved for 190k, and this number has only been dropping ever since. Since this has been an issue and it appeared they may have absurd closing costs, I have begun looking for other banks, but at this time- an FHA loan is looking like the most probable form of loan for this property.

The only issue after financing then is that I am concerned that the garage may not meet FHA requirements. There is a slight sag to the roof and it has supposedly been that way since construction (Approx 40 years). It will need to be fixed at some point costing approximately 2-6k, but I am assuming it would make it as-is another 2 years.

Has anyone had a similar issue? How did you resolve it? Was it an issue for FHA financing?

Any and all help in understanding this issue will be greatly appreciated!  Thank you! 

[Kevin S.]

@Elijah Miller I've used FHA loans twice before, and in my opinion the inspectors used by banks for FHA loans seem to be hit or miss as far as what they will or won't call you on. The first time, the inspector was especially nit-picky, the second time I think the inspector was there for a grand total of 8 minutes and noted no issues. The biggest thing to look out for is wood-rot on the exterior. If you truly believe that the garage is going to be a deal-breaker for the FHA loan, why not see if the seller is willing to fix it and add those costs into the purchase price, so that it's fixed before you purchase the place? I know @Robert Higdon mentioned 203k loans, however I'd be leary of this option because this is a fairly complex, time intensive, paperwork strewn option (search BP for post's by other on their experiences with 2032k loans) and do you really want to go through all of that for 2-6k of work that needs to be done?