Man, I totally get that hesitation. When I bought my first place, I was convinced I could handle a “little” fixer, but even just swapping out old appliances and painting a couple rooms drained my savings way faster than I expected. Those lender-required repairs can sneak up on you, too—like, really, you’re holding up my loan over chipped paint? Honestly, if you’re already stretched thin, sometimes move-in ready (even if it’s not your dream look) just makes life less stressful. You can always swap out the ugly hardware later when you’ve recovered a bit...
Totally relate to this. I thought I could save a ton by doing minor renos myself, but man, even just replacing carpet and fixing some drywall ate through my emergency fund way faster than I planned. And yeah, lenders get picky about stuff you wouldn’t even notice living there—like, my underwriter flagged a missing handrail on the basement stairs. If your budget’s tight, I’d say go for something livable and tackle the cosmetic stuff slowly. The “fixer” route can be a money pit if you’re not careful.
Yeah, I’ve been there too. First time I bought a place, I figured I’d just patch up some walls and swap out the kitchen floor—ended up discovering water damage under the old vinyl that cost way more than I budgeted. Lenders really do have a checklist a mile long. Curious, did your lender require you to finish all those repairs before closing, or did they let you escrow for it? Sometimes they’ll hold back funds until you fix stuff, which can be a headache if cash is tight.
Title: Mortgage Approval with 580 Credit—Repairs and Escrow Headaches
I ran into almost the same mess when I bought my place last year. My score was just over 580, so I went FHA, and they were super strict about the property condition. The appraiser flagged peeling paint and a broken window, and my lender flat-out said the repairs had to be done before closing—no escrow option. I tried pushing for repairs after closing because my budget was already stretched thin, but no dice.
Honestly, it was a scramble. Had to borrow a bit from family just to get those “health and safety” issues fixed up in time. It’s wild how picky they get, especially with lower credit scores. I wish they’d been more flexible with escrow, but I guess they’re just covering their bases. I’ve heard some lenders will do repair escrows for minor stuff, but mine wouldn’t budge.
Looking back, I probably should’ve set aside a bigger chunk for surprise issues like that. The inspection missed some stuff, too, so even after closing I was still fixing things up. Not sure if it’s the same everywhere or just depends on your lender, but it definitely made the whole process way more stressful than I expected. If you’re going in with a lower score, just be ready for extra hoops and have some cash on hand for those last-minute fixes... learned that one the hard way.
Yeah, I ran into a similar situation when I bought my first place last fall. My credit was hovering around 590, and I went FHA too. The appraiser flagged some chipped paint on the porch and a missing handrail, and my lender wouldn’t let anything slide. They were super strict about getting it all fixed before closing—no repair escrow, even though I’d read online that it was sometimes possible.
I remember thinking the inspection would catch everything, but nope... there were a few surprises after closing that cost more than I expected. I get why lenders are cautious with lower scores, but it does feel like they could be a little more flexible for minor stuff. Had to dip into my emergency fund just to cover those last-minute repairs, which wasn’t ideal.
If I could do it over, I’d definitely budget extra for random fixes and maybe shop around for a lender who’s open to escrows for small repairs. Not sure if it’s just luck of the draw or what, but the process was way more stressful than I thought it’d be.
