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Home appraisals and house inspections. Many first time home buyers aren't sure of the difference, and don't know if either are necessary or required. Download the get mortgage ready free guide at the button below and get on track to become a first time home buyer.
The Streamline 203k can help the house you want pass the HUD inspection required for FHA loans. The following list is a general idea of HUD requirements a home inspection may uncover. While each item may seem fairly small, adding them up will tally up quite a bill. Paying for them by financing the purchase with an FHA 203k Streamline will help spread the cost of it all over the life of the mortgage loan.
We've talked about pest inspections for first time home buyers during the month of November. We have looked at the damage left behind by termites and carpenter ants. You saw mud tubes in the basement of a house, and damage to a bedroom floor. You also saw a few areas where you can help prevent insect infestation.
This is an article submitted by a guest author. Not all views expressed are those of Amerifirst Home Mortgage or its employees. A home inspection is an invaluable tool for a home buyer trying to decide whether or not a specific property is a good investment. Being present for the process can make the inspection even more worthwhile. Asking questions of the inspector and getting his or her opinions about the problems with the house can help the home buyer decide whether or not to move forward with the real estate transaction.
Equal Housing Lender
A division of Union Home Mortgage Corporation
950 Trade Centre Way, Suite 400
Kalamazoo, MI 49002
NMLS ID #2229
This is not a commitment to lend. Not all borrowers will qualify; contact us for more information on fees and terms.
