At EZE, we’re here to make selling your home as seamless and stress-free as possible. We know the process can feel overwhelming, especially when every buyer seems to come with their own set of needs and requirements. And one of the key factors that can impact your selling experience is the type of loan your buyer is using. FHA, VA, USDA, and conventional loans all come with specific guidelines that could affect how we prepare your home for sale—particularly when it comes to repairs.
If you’re feeling uncertain about which repairs are necessary and which ones can wait, don’t worry—we’ll navigate this together. Our goal is to help you make the most cost-effective decisions, ensuring your home passes buyer requirements without making unnecessary updates.
Comparing Loan Programs: What You Need to Know
We know that the type of loan your buyer uses can directly impact how smoothly your home’s sale progresses. From repair requirements to the timeline for closing, different loans come with unique considerations. To help homeowners like you feel confident and prepared, we’ve created a side-by-side comparison of the most common mortgage loan programs in Michigan.
This guide will give you an at-a-glance understanding of how these loan types vary, and how EZE can help you navigate the requirements with ease.
|
Loan Program |
Down Payment Requirements |
Approval Dependency on Home Condition |
Typical Loan Processing Time |
Volume of This Loan Type in Michigan |
Credit Requirements |
|
Conventional Loan |
Typically 5%–20% (as low as 3% for first-time buyers) |
Moderate dependency – generally less strict than FHA/VA loans |
~30 days (can vary) |
High – Common across Michigan for buyers with high credit |
Requires good-excellent credit (usually 620+) |
|
FHA Loan |
3.5% (with credit score 580+); 10% (with credit score 500–579) |
High dependency – FHA appraisals require stricter safety and habitability standards |
~30–45 days |
Moderate – Especially popular with first-time buyers |
More flexible – Typically 580+ (or 500+ with 10% down) |
|
VA Loan |
$0 – No down payment required |
High dependency – Subject to VA Minimum Property Requirements (MPRs) |
~40–50 days |
Moderate – Used by veterans and service members in Michigan |
Flexible – Typically 580–620+, but varies by lender |
|
USDA Loan |
$0 – No down payment required |
High dependency – Property must meet USDA rural and structural requirements |
~30–60 days |
Low–Moderate – Rural-focused, but growing in Michigan |
Moderate – Typically 640+ |
What This Chart Means for You
Here’s the key takeaway: the type of loan your buyer is using can have a big impact on how we prepare your home for sale. That’s where EZE comes in.
- For FHA, VA, or USDA Buyers: These loans can have stricter requirements for home condition, safety, and habitability. We’ll work together to identify the repairs that matter most—like addressing peeling paint for FHA buyers or fixing safety hazards for VA buyers—while saving time and money by holding off on unnecessary updates.
- For Conventional Buyers: While these buyers generally have fewer property condition requirements, we’ll still prioritize top-dollar updates that enhance marketability and avoid lingering issues during inspection.
By tailoring strategic updates to the buyer’s loan type, EZE ensures your home sails through the sale process without unnecessary costs or delays.
How EZE Guides Repairs Based on Buyer Loan Type
From experience, we know it’s tempting to start tackling every repair on your own before the house is even listed for sale—but that’s not always the most cost-efficient approach! Instead, we’ll work alongside you and tailor our repair strategy to the buyer’s loan type, saving you time, money, and stress.
Here’s how we help:
Identifying Must-Do Repairs
Certain repairs will always make sense to complete upfront—like fixing a safety hazard, repairing a leak, or resolving a glaring issue like a hole in the wall or a broken window. These types of repairs make the home marketable to all buyers and ensure great first impressions.
However, for loan-specific repairs, it can be more strategic to wait until we know the buyer’s loan type. Loans like FHA or VA come with requirements that might not apply to conventional buyers. For example:
- FHA and VA Buyers: It may be necessary to address handrails, repair chipped paint, or fix broken outlets to ensure the home passes the appraisal and inspection process.
- Conventional Buyers: With fewer restrictions, repairs like cosmetic paint touch-ups or replacing worn carpet might be unnecessary. Instead, we can leave those decisions to the buyer.
By tailoring our approach to your buyer’s loan type, we’ll avoid over-investing in repairs that might not add value to the sale.
Strategizing Repairs to Avoid Delays
We understand that time is often a key factor for sellers, and some repairs can delay the process. Together, we’ll focus on repairs that avoid roadblocks later, such as:
- Safety Concerns: Repairs that ensure the home is safe for inspections.
- Major System Repairs: Issues with the roof, plumbing, heating, or electricity that could fail buyer appraisals (especially for VA or FHA).
- Structural Issues: Foundation cracks or water damage that could turn buyers away immediately.
If the buyer’s loan type dictates additional repairs post-offer, we’ll help you move swiftly and efficiently while working within the requirements of the deal.
Helping You Prioritize Cost-Effective Updates
Repairs don’t have to drain your finances. At EZE, we’ll assess your home and identify affordable upgrades that maximize appeal—without overhauling the entire house. For example:
- Adding mulch and flowers to boost curb appeal (marketability).
- Repairing minor flooring issues that might be flagged by FHA appraisers (salability).
- Pausing costly cosmetic fixes, like upgrading countertops, unless the buyer requests it.
With our private lending solutions, we’ll cover the upfront costs of necessary repairs, so you don’t have to pay out of pocket. You won’t owe us a dime until closing, which means you can move forward confidently—knowing we’ll handle the details.
Title Concerns? We’ve Got You Covered
While repairs are often the focus, title issues can also impact salability if not addressed. If a buyer’s loan requires all liens or judgments to be cleared before closing, we’ll help you resolve them efficiently. Whether it’s past-due taxes, unpaid mortgages, or other claims on the property, EZE is here to help with a smooth sale.
How EZE Simplifies the Process
If you’re feeling unsure about where to start—or what repairs will be required based on a buyer’s loan—don’t worry. That’s exactly what EZE is here for.
We’ll partner with you to:
- Identify essential updates to meet buyer loan requirements.
- Avoid over-investing in unnecessary repairs until the buyer’s loan type is clear.
- Handle upfront repair costs through private lending options, so you don’t have to pay anything until the home is sold.
Together, we’ll make sure your home is market-ready and positioned to pass the finish line no matter which type of buyer comes along.
Let’s get started on simplifying your home sale! Reach out to EZE, and we’ll help you navigate every detail—tailored to your buyer’s needs—to ensure a successful and seamless process.