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Appraisal vs. home inspection. The FHA requires an appraisal (and so do many mortgage lenders for all kinds of loans, such as conventional loans), while an inspection is an optional but highly ...
The following items are typically not included on a professional home inspection checklist for buyers: Rodent infestation. Landscaping. Pests like termites or carpenter ants.
Inspection and property requirements. FHA loans include a process in which a HUD-approved appraiser must assess the property to verify its market value and compliance with HUD’s basic property ...
A home inspection is a limited, non-invasive examination of the condition of a home, often in connection with the sale of that home. Home inspections are usually conducted by a home inspector who has the training and certifications to perform such inspections. The inspector prepares and delivers to the client a written report of findings.
The examples and perspective in this article deal primarily with the United States and do not represent a worldwide view of the subject. You may improve this article, discuss the issue on the talk page, or create a new article, as appropriate.
A building inspection is an inspection performed by a building inspector, a person who is employed by either a city, township or county and is usually certified in one or more disciplines qualifying them to make professional judgment about whether a building meets building code requirements.
FHA loan: Insured by the Federal Housing Administration, FHA loans allow you to buy a home with a minimum credit score of 580 and as little as 3.5 percent down, or a credit score as low as 500 ...
The FHA streamline refinancing program requires no repairs be made to the property except for the removal of lead-based paint. [6] For example, repairs to a roof, foundation or electrical wiring are not required for an FHA streamline refinancing. The FHA streamline refinancing program does not permit home owners to receive equity back as cash. [7]
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