because you need a constrcution loan and your loan officer may not be specialized in construction loans. And there is 103% financing avaliable as well if you like i could look for some thing for you but i cant promise you any thing. my number (909)390-9171 ask for richard.

Typically a credit that is issued from the seller can be applied to Non Recurring Closing Costs (NRCCs). This can be up to 3% on 100% financing and 6% on most other loans.
(ex. You buy a home for $100,000 and are financing $100,000 you could receive up to $3,000 toward your closing costs.)

If the NRCCs do not exceed the amount being credited the remaining money should be used to buy down the interest rate.

Sometimes the funds can be held in escrow as a holdback to complete the repairs. Check with your realtor and escrow officer to see what they have done in the past.

The only other way to get full credit for the repair is to have the repair completed prior to Close of Escrow (COE).

If you do not have enough money for the move, there are loan options which can allow you to finance up to 107% of the purchase price. Please note these loan options will have higher rates.

~Danke Schoen

It sounds a little like the state of the house is part of what has made it available to you. if i make that assumption then you should bear in mind JokerKid’s advice but remember that a house with no issues will probably cost a lot more. In a sense ALL money upfront is capital raised against the debt. This means you will have increased the value of the house due to removing the issues. A lender should be able to value the house with the repairs in mind and forward the funds. however things are tight and they might have you on the borderline of approval as it is. I would look around for another approver just to strenthen your negotiating position. Also consider lengthening the term rather than increasing payment.
Another option is to defer some of these issues; lock away 5000 in a term investment (a secure one) and lock up the cellar. Do things as you can.

What they dont want to do is give YOU the cash at closing. Instead, you need to write the agreement so that the $5,000 stays in the escrow account. Then, you’ll need a licensed person to remove the asbestos, and when it is done, the escrow agency issues the check directly to them— but not all companies will do this– some contractors expect to be paid up front.

Don’t lower the sales price. Just keep it the same, with the $5000 “allowance towards repairs” or some such wording. If you’ve got some cash to fix the asbestos, you can turn in your receipts for materials and get the escrow to pay you back the $5K…there are other ways to work this.

So what if it’s 4%, it’s asbestos. It’s worth the cost of highering a pro instead of taking any risk to you health.

Asbestos has been one of the big scare issues of our lifetime. If properly handled, asbestos can be cleaned up pretty well. What you are most concerned about is asbestos dust that might get into the air that you breathe. Good abatement contractors make sure it is kept wet and contained. They follow up with a good HEPA vac to remove all traces. That vent pipe is not going to give off a lot of asbestos in my opinion.

Was there a disclosure in the contract pertaining asbestos? The seller should have taken care of this, before putting on the market. The banks tend not to lend money on anything that has asbestos problems.

asbestos was used in fire curtains

Those tiles are quite safe while in place.
The asbestos is ‘encapsulated’ and no hazard until you cut them
creating airborn dust.
Yes, there is some “hysteria” involved, but it’s also found tis
way into the Law.
If you remove them, they are ‘Hazardous Waste’, and require
special, (expensive), disposal.
Doing it yourself, and just dumping them is a crime.
I’d just live with them

Depends, Painting Floors where theres water doesnt really last. Using TSP, Sealers and inspections is not gonna work for you since your probably looking for a temporary fix. Try this:go to a Paint store, not a Home center and ask for an oil base floor paint, put on 2 coats, wait 24 hours between coats and you should be good for a while…