Whether you dream of scoring a deal on a fixer-upper, or finding a home that’s move-in-ready, the house needs to meet some minimum criteria before most financing can be secured. While there are a number of exceptions to these guidelines, here are a few things to keep in mind when looking to purchase a home with financing:

• There can be no unfinished sub-flooring. Floors may be covered with carpet, tile, hardwood – you can even paint them – but all floors should have some kind of covering.

• No walls, no loan. All walls must be textured and painted with no outstanding or incomplete work, exposed carpentry, or visible wiring. FHA requires Chipped Paint to be cured prior to closing

• If there is a space for a fixture, it needs to be occupied. This includes windows, electrical outlets, light switches, lighting, faucets, and toilets. They don’t all necessarily have to work, but they do need to be installed so wiring and plumbing are not visible.

• Handrails! On the stairs on the way down to the basement and to the second floor.