A Crucial Update for Capital District Homebuyers
Are you in the process of buying a home in the Capital District of Upstate New York? If so, there’s an essential industry update you should know about regarding handrails. ClearPath Mortgage Solutions, your trusted local partner, is here to keep you informed about recent developments that could affect your home purchase.
Handrails: The Latest Safety Focus
Lately, during the appraisal process, you may find that handrails have become a prominent point of concern. Appraisers and lenders across the Capital District are increasingly identifying handrails as a health and safety issue. But what’s driving this newfound emphasis on handrails?
Why Handrails Matter
This shift in appraisal standards primarily comes from underwriters who aim to ensure that loans remain marketable on the secondary market. They’re scrutinizing properties to guarantee they meet safety requirements, with a particular focus on handrails.
What You Need to Know as a Homebuyer
As a homebuyer, it’s crucial to be aware of this trend. If you’re buying a property and the financing involves a conventional loan, don’t be surprised if the subject of handrails arises. Rest assured, this isn’t a tactic to change loan types. Lenders are adhering to updated guidelines set forth by underwriters.
Handrails Are a New Standard
Conventional loans are increasingly requiring handrails when a property features more than two or three steps, aligning with local building codes. It’s a simple safety measure, and addressing it proactively can save you time and money.
Taking Action
Installing handrails is an easy and cost-effective solution that ensures your safety and the success of your real estate transaction. By addressing this concern upfront, you can avoid reinspection fees and potential delays.
Trust in ClearPath Mortgage Solutions
ClearPath Mortgage Solutions is your local expert, here to guide you through the complexities of buying a home in the Capital District. We understand the importance of staying informed and how these industry updates can affect your home buying journey.
Your Homeownership Journey with ClearPath
Whether you’re a first-time homebuyer, looking to upgrade, or seeking to refinance, ClearPath Mortgage Solutions tailors our services to your unique needs. Your success in the real estate market is our top priority, and we’re here to help you navigate the ever-evolving landscape.
Serving the Capital District and Beyond
ClearPath Mortgage Solutions proudly serves Albany, Schenectady, Saratoga, Hudson, and various other counties in Upstate New York. We’re your reliable partner in achieving your homeownership dreams, and we’re here to help you stay informed and make educated decisions during your home buying journey.
ClearPath Mortgage Solutions, Inc. is a Registered Mortgage Broker, NYS Department of Financial Services, NMLS #1394615. Mortgage loans arranged through third-party providers. Equal Housing Opportunity. The content provided within this booklet is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Address: 43 British American Boulevard, Suite 5, Latham NY, 12110(518) 389-7070 / (888) 872-9740 / [email protected]
