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Ruhl Mortgage Tip on FHA Loans
When you think of an FHA loan, you may think that the homes are harder to pass an inspection. While that can be true at times, because some houses aren't FHA qualified, it's not always the case. The property must pass an inspection to ensure the home meets the minimum standards to protect the health and safety of the occupants and is structurally sound. This decreases the chance of new homeowners needing to conduct significant repairs or renovations. When an FHA appraiser goes through, they are looking for safety related items. Most people tend to think they will focus on the small and unimportant items, but a small percentage of appraisals will have any repairs listed. Take a look at the following items that are usually not addressed on an appraisal:
- Missing handrails that do not pose a threat to safety
- Holes in window screens
- Cracked window glass
- Defective interior paint surfaces in housing built after 1978
- Minor plumbing leaks that do not cause damage (e.g., dripping faucet)
- Other inoperable or damaged components that, in the appraiser's professional judgment, do not pose a health or safety issues
So if you are buying a home and qualify for an FHA loan, don't fret about the appraisal inspection–it could be worthwhile! Ruhl Mortgage will always be here to simplify the mortgage process for you. If you have any questions regarding financing or would like to become pre-approved, visit RuhlMortgage.com and connect with a loan officer today!
