Will a roof that needs to be replaced hold up a USDA loan?
We are buying a house with a USDA loan and just had our inspection done today. The house was build in 2001 and overall is in good shape, but the roof is 20 years old. The inspector found no water damage in the attic or any signs of leaking, only a few damaged shingles and fact that it is 20 years old and will needs to be replaced sooner rather than later. He recommends a further inspection with a roofer to get a better idea of the life left in the roof.
Just because the roof is old will that be enough for the USDA to not approve the loan? We are waiting to hear further from the sellers to see if they are willing to repair the damaged shingles.