The attraction of FHA or VA insured loan program is the low down payment requirement. These are good programs that have enabled many to purchase a home without needing much money for a down payment. However, when using these programs to purchase older homes in Dover and the seacoast of NH many issues come into play. The subject home cannot have asbestos on the pipes, plumbing and electrical must be brought to code or to the VA /FHA standard, proper rails needed, and the list goes on.. Many people get scared when asbestos is mentioned. According to the state of NH as long as asbestos is wrapped and secure (not flaking) then it’s safe and does not need to be removed. In short, thousands of homes in New England have asbestos on the pipes. Furthermore, many homes have asbestos siding. That being said, asbestos is a red flag for VA and FHA inspections. Just be aware the appraisal will uncover any imperfections with the home and it will most likely need to be addressed prior to close. Our company has worked with these types of properties. If you have questions about purchasing in Dover, Portsmouth, or Rochester please give me a call or email.