Seller Readiness Rehabilitation Program Application |
I: Introduction
This program assists sellers with the completion of home repairs that will allow homes to meet standard financing criteria. Loan funds are intended to pay for the costs of materials and workmanship to remedy deficiencies in the condition of the property which would prevent the home from obtaining, if otherwise qualified, USDA, FHA, or VA purchase financing loans due to the property’s substandard housing condition. When a home does not meet USDA/FHA/VA financing requirements, the program will loan sellers money to hire a contractor to make the fixes listed by an appraiser. The program finances up to $5,000 in repairs and sustains itself through at 10% administration fee rolled into closing costs.
See full program criteria at https://erjpb.com/housing/