“Cesspool vs Septic System”
Hi
Joe, we found another interesting house which we are considering to bid
upon. It is an antique house that has a cess pool which is
functional. Is this an issue with getting financing from your company?
It would be a problem with a bank mortgage.
Ruth
I
wish there was a simple answer to this question; it’s just not the
case. Most lenders don’t like doing mortgages that have a cesspool, but
we have gotten many approved. A lot has to do with the appraiser and how
they view them.
More times than not
these mortgages need to be done as a conventional loan. It is much more
difficult when it comes to FHA, VA and USDA loans, but still possible.
