FHA Home Inspection
FHA Home Inspection | FHA loans provide an option for borrowers who may not qualify for other home loans, and also assist first time home buyers buy requiring lower down payments and interest rates. FHA loans can be used to purchase new and existing homes. It is highly recommended to get a home inspection with these loans.
Not only does a FHA home inspection protect the buyer, but also the mortgage lender and thus many FHA sales contracts are drawn up with a contingency that the home passes inspection. The findings of a home inspection are provided in a detailed report from the home inspector, and include the findings of his/her visual walkthrough of the home. All inclusive, this inspection covers everything from evidence of the structural integrity the possible presence of mold and probabe pest damage. These reports further include details about a home’s roof, plumbing, and electric.
Why is an inspection so important to a lender, not just a buyer? The amount of money that is lent is termed collateral. In the event that a borrower stops making payments, the house will go into foreclosure and be sold to gain as much of the lent money back as possible. Making sure the home is in safe and livable conditions assures the lender will be able to sell the property easily and for top dollar, if necessary. Foreclosure aside, when a buyer obtains a proper home inspection before buying a property they will be more likely to make their mortgage payments, even in hard times because they are living in a safe and pleasant home.
How can Beryl Project Engineering help you in this process? Beryl Project Engineering has only certified home inspectors who have years of experience providing buyers and lenders with in-depth, accurate home inspections. Find your dream home and want to purchase it with an FHA loan? Call Beryl today to assure you and your lender are protected!