Home InspectionFHA Home Inspections | The Federal Housing Administration (FHA) was created to make sure that all citizens of the United States had access to safe housing. The FHA issues loans to people with less than stellar credit. Most mortgage loans require a 620-credit score minimum, but an FHA loan only requires a 580. They also allow home owners to purchase a home with low down payments that are based on credit score. Some loans have as little as a 3.5% requirement for down payment. With these loans however, home owners are required to get an FHA Home inspection.

Here are some specific FHA Standards you will want to be aware of before your inspection that require repair from the seller before the FHA will issue mortgage insurance on the home:

  1. Egresses are inadequate to the outside of the home.
  2. Roof is leaking or in bad repair.
  3. Foundation problems caused by settlement.
  4. In homes built before 1978-defective paint surfaces and unprotected exterior finish.
  5. Active infestation of termites or other wood destroying insects.
  6. Well water contamination (if required by state or local authorities).
  7. Septic tank failure.
  8. Leaking basements.
  9. Hazardous materials on the property.
  10. Faulty plumbing, electrical or heating systems that are mechanical.
  11. Structural failure such as bulging foundation walls.

If the home you are looking to purchase with an FHA loan does not pass an initial inspection, the owner will be given time to address the issues and a re-inspection can be done. Homes that require minor repairs that are cosmetic or do not pose a threat to the safety of the occupants can still be sold with an FHA loan. Just like a regular home inspection, the borrower will need to pay for the inspector who will be chosen by the creditor. The average cost of this service is around $400 while a regular home inspection averages just over $300. If you need an FHA Home Inspection, contact Beryl Project Engineering today!