Impact of Structural Issues on Home Loan Closing [Video]

This week our hosts, Jim Cardinal and Alexis Meeks, discuss the impact of structural issues on the home loan closing process.

Most home buyers are aware that repair costs for a structural issue must exceed $1,500 in order for a structural issue to impact the home loan closing. However, often there will be an agreement between the seller and buyer in the form of a credit when structural issues do exist.

This credit can be addressed many different ways, and you always want to have an attorney involved in situations such as these.

As Jim describes in the recent transaction he had, the credit was applied through a reduction in the home loan closing costs…

…but I’ll let Jim and Alexis provide you with the detail in this short video:

Thankfully, we have Jim Cardinal, Branch Manager for Syracuse Securities {visit his website to learn more} and Alexis Meeks of Karp, Ackerman, Skabowski & Hogan CPAs {Connect with Alexis on LinkedIn} to explain what is happening in the mortgage industry, how issues will impact the home buying process, and what actions to take moving forward.

You can reach them by phone at:

  • Jim Cardinal | (518) 281-0077
  • Alexis Meeks | (518) 828-7618

We can help with NY home insurance

If you are a first time home buyer or if you currently own a home, we would love the opportunity to help you find the proper coverage at the most competitive rate for your home insurance or rental property insurance. We are dedicated to helping you make the best decisions regarding your insurance, and providing our community resources like Mortgage Mondays is part of that dedication.

If you would like to receive a quote, give us a call at (518) 456-6688 or click here to begin the process by email.

Thank you,

Ryan Hanley, CIC

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