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Frequently asked questions

Do you offer loans for the purchase of foreclosure or bank-owned properties?

Yes, we do offer mortgages for the purchase of foreclosed and/or bank-owned properties. However, any required repairs must be completed in a timely manner, and the home must receive a C4 rating or better following its appraisal.

We hear you asking: "What is a C4 rating?" In short, a C4 rating is a standardized assessment of a property's condition, born out of a larger initiative to improve the consistency of home appraisals in the United States. "Condition ratings," as they are known, start at C1 and go right through to C6—which designates a property "in need of substantial repairs and rehabilitation." To receive a C4 rating, a home must meet the following conditions:

"The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been adequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building components have been adequately maintained and are functionally adequate."