While a traditional home inspection is not a requirement of the VA, a pest inspection is for specific states. During VA appraisals, they will check to ensure the property meets VA inspection requirements. So VA inspectors are licensed appraisers. The cost of a septic system is very expensive to replace, so it is worthwhile checking.Ī VA loan, however, does require a VA appraisal to be done. If there is a septic system instead of public sewers, that is also likely to be inspected. Many will also have reviews for items potentially outside the scope of the general inspection, including checking for radon, mold, and the quality and quantity of the water if there is a well. Forgoing an inspection raises the possibility of buying a house with significant problems.įor most, one of the steps of buying a house is to have a thorough general inspection. Without an inspection by a licensed home inspector, you will not know the property’s actual condition.Ī home inspector’s job is to identify any issues with the property. Inspections for homes are not required, but it is undoubtedly recommended. There will be different document requirements for each loan type. If you are considering using one of these mortgage programs, here is what the lender will need to approve the loan. FHA and VA loans are two of the most popular mortgage programs among first-time home buyers. There are benefits to a VA loan that a buyer might not want to pass up just because they need to make some repairs. Ultimately, the repairs must be completed before the closing for the loan to be approved. They want to ensure the home they help purchase is re-salable in case the borrower defaults on the loan-so they will not make exceptions for necessary repairs. The great rates and improved loan options these loans offer are made possible because the FHA or the VA is backing the loan. If you are a seller, you want to be aware of the repair requirements of these loan programs in case you need to sell to a buyer getting such a loan. If you are a buyer seeking a VA loan, you need to find a home that meets the condition requirements of the program you are using-or work out a way for the repairs to be made before the sale-to get the loan. There are inspection requirements for FHA loans too. Special loan programs like the Federal Housing Administration (FHA) and Veterans Administration (VA) loans are great for those who can take advantage of them-but there are some inspection and appraisal requirements for these programs.īuyers and sellers must know these conditions when dealing with VA loans.
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