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We just had an inspection done on the house that we are trying to buy. He let us know that there is a leak in the corner of the house from the roof. What are the chances that the bank will still approve the loan and let us have the house?

7 Thoughts on When buying a house, will the back approve a loan if there is a roof leak found by the inspector?
  1. Reply
    rcd
    November 22, 2011 at 4:06 pm

    for that my suggestion is
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    i hope it will be beneficial for you
    keep using answers.yahoo.com

  2. Reply
    Bea Real
    November 22, 2011 at 4:53 pm

    sure they will approve. problems on inspection occur, I know, been through that. You just negoiate with the seller, usually lowering the cost or have them repair it first.
    Banks & loan companies don’t care about those lil picky details, lol, all they care about is getting there money and if you don’t pay it, then they’ll just take your house.
    So, once again the loan will go through.

    Take care..have a great day

  3. Reply
    ranger_co_1_75
    November 22, 2011 at 5:02 pm

    most banks will require the roof to be repaired before or within a set number of days after closing. It depends on what you negotiate with them.

    I have bought many investment houses over the years, and it is rare a bank will ignore a defect found on inspection. There logic is they may ultimately wind up foreclosing and want the house as marketable as possible when that happens.

  4. Reply
    CHER
    November 22, 2011 at 5:36 pm

    yes after the owners fix it

  5. Reply
    Natasha
    November 22, 2011 at 6:25 pm

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  6. Reply
    Xavier
    November 22, 2011 at 6:38 pm

    A home loan, or mortgage, is most simply described as a loan taken out so that you can purchase a home. Here we’ll explain the very basics of home loans so that you can at least have a basic knowledge of mortgages and how they work.To obtain a home loan you will need to be at least 18 years old and have the income required to be able to easily afford the loan payments. While many mortgages are placed on existing homes, you can obtain a home loan based on units, condominiums, new construction or land packages.

  7. Reply
    John
    November 22, 2011 at 7:23 pm

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