The following are some of the simple home improvement tips that should help you related to mortgage approval:
If the paint on the exterior of your home is peeling, paint your home. This is one of the biggest issues with most homes that I appraise. You see, if the paint on your home, deck, outbuildings or fencing is peeling and exposing the wood, it just looks bad. The home looks like the owners’ don’t care about the home and don’t maintain their home.
The appraiser is required to take photos of the exterior of the building and the amenities of the subject. These are the photos that the lender sees. Make sure that you take some peeling flakes of paint, match the paint at your favorite local paint shop and paint your home, paint your deck, paint your fence and paint anything that needs painting. If the appraiser or lender calls out your paint and it’s the incorrect time of the year to paint your home, it might hold up the closing of your loan.
If you’re in the process of remodeling your home, be specific and honest with your loan officer on this one. If the second level of your home is under construction, be honest with your loan officer and tell them exactly what you are doing. Look, the appraiser will be there soon and see everything that you’re doing, so don’t lie on this one. Just be upfront and ask “what if” questions, so that you can figure out what you’ll need to do to get your loan.
Fix major broken items that are easily noticed. If your garage door is broken and hanging off of the hinges, make sure you fix it. If you have broken windows that are duck taped together, fix them. If your shingles on your roof are curling up and are as brittle as the potato chip you ate last night and you’re starting to see interior leaks on the interior of the home, fix them. Most likely, the bank or the appraiser will note these items on the appraisal. The bank will make you fix these items, so make it easy on yourself and fix these items before the appraiser gets to your home.