Should repairs be made in order to refinance your home? If so what type?

It really depends on whether an appraisal is needed or not.. if no appraisal is needed, and you're doing a "rate and Term" refinance, then you will not need to do any repairs.. if you do need an appraisal, then any property deficiencies that have to do with "Safety and Health" concerns must be corrected prior to the loan being funded.. When the appraiser goes through your home during his inspection, he will note on the appraisal any issues that need to be dealt with.. to tell you what "type of repairs" would be needed could not be done on this post.. The list of what he looks for is WAYYY too long..... Some things he will watch for are exposed wiring, broken windows, in operable plumbing, heating, AC... Faulty grade.. the list goes on... so unless your more specific as to what your property needs in the form of repairs, I just advise you properly... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Well said, William. I would add that certain repairs can help improve the value. The better your home looks when compared to other comparable homes in your community, the better yours looks, the more it can help sway the value. Things like fresh paint, new floors cabinets, counter tops, faucets, etc can make a difference. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Good comments by William and Bert above. If there are repairs and/or improvements that need to be done or that you would like to include it may be possible to include those in the new loan amount, up to what the house will be worth (according to a new appraisal) with the repairs and/or improvements completed. I have several customers doing this currently using either FHA or conventional financing.

Yes, the repars would help with the value when the appraiser does your appraisal.If deficiencies are there it could lower the appraised value, so anything that could be done prior to the appraisal would be beneficial to you.