FHA / VA / HUD

• By Andrew Fox
•

Just because the government calls it an inspection does not mean it is actually an inspection. Let’s talk about your FHA and VA home purchase. Using the opportunities afforded through an FHA or VA loan is an excellent means to achieving home ownership. This article will not get into the specifics of what an FHA or VA loan is or how to qualify for one. Please go to www.HUD.gov for talk with with our lender for that information, but rather what steps you can take in the home inspection process.

As a consumer you are considered to be the mortgagee and bank or financial institution is the mortgagor. It is very important to understand that before moving forward. FHA is the governmental agency providing insurance or assurance to the mortgagor that the mortgagee will not default on the loan. Because FHA is a assuring the mortgagor that the mortgagee will not default the home has to be in a condition where if the default happens the government will have the ability to resell the home without having to place considerable funds into repairs or upgrades. This could also be seen as making sure that the home is in suitable condition that the mortgagee does not have to be strapped with issues in the home directly upon the purchase.

While FHA does not require the mortgagee too specifically engage the services of a professional home inspector it greatly encourages it. FHA will require an FHA certified appraisal to be performed. Many times this appraisal is called an inspection but in fact it is an appraisal for value but during this value appraisal the appraiser has to perform a condition report. In this value condition report created by the appraiser will have to identify or recognize issues with the roof, plumbing, electric, structure, HVAC, and waterproofing systems of the home. If any issues are found the mortgagor will have to have those issues professionally inspected and certified.

It is only the mortgagor who can call for and hire the third party professional to provide these certificates and approvals. The mortgagee or Real Estate professional cannot cal or hire these services. The challenge is; hiring the two, three or four different professionals cost considerable money and adds time to the process. These contractors could also be biased toward replacement of the system instead of repair solutions. These contractors are in the business of selling their services and products.

If the mortgagee (home purchaser) enlists the services of a The BrickKicker inspector they would be able to not only receive a superior home inspection but have a professional that can help decipher the various standards required by FHA or VA. These could include roof statistics, plumbing issues, peeling paint, and hand railings on stairs. There are over forty different major component issues that must be identified and found to be satisfactory and you inspector is and expert and each of them.

There is also one other advantage in the process. The BrickKicker inspector is approved by HUD to provide all 6 of the certifications required. This eliminates the need for bringing a biased contractor into the process and speeds up the transaction.

Do not let your FHA or VA purchase go without the hiring of your The BrickKicker inspector. They will be your ally and consultant in the purchase process and will also be able to help identify any issues that might be a stumbling block in the FHA and VA process. Every The BrickKicker inspector knows and understands the FHA 4150.2 home requirements and elements which the appraiser is required to identify. Call you local The BrickKicker today and talk to them about your FHA or VA home purchase and how they can help you through the process.