Monday, September 21, 2015

FHA Loan Home Inspection Guide: What to Check in a Property?

FHA loan is a beneficial loan for applicants. However, it subjects applicants to various conditions before approval. One of these is home inspection. FHA loan providers will inspect the house according to several elements like the following:

Soil Condition

Properties are constructed on grounds, which means the soil must be stable enough to support the entire structure. Soil will be inspected for sink holes, slush pits, and elements that may cause instability to the property. Other soil conditions include its risk level when it comes to soil erosion and flooding.

The level of inspection may vary depending on the general soil condition and neighborhood's location. A land near bodies of water like rivers and creeks tend to have weaker soil due to nearby.

Drainage, Water, and Sewage Systems

Inspecting water drainage system is crucial as it can affect soil condition. In fact, damaged underground drainage system can loosen the soil and make it prone to flooding and soil erosion once during rainy days.

The US Department of Housing and Development also stated that every property should have sufficient potable water supply utilizing appropriate pressure. Houses must also come with safe sewage system to ensure both occupants and the neighborhood's safety. Those that obtain water supply from wells must ensure the source is far from the septic tank by at least 50 feet. Installed septic tank should comply with the standards set by Environmental Protection Agency and other authorities.

Termite Infestation

Termites are capable of destroying homes with wood as main material. An FHA-authorized and licensed pest control expert must check the house for active termite infestation. Inspectors will then assess the house for recommendations. Any termite-triggered structural damages must be repaired before an appraiser can clear the property for sale. FHA mortgage providers will look for this certification as part of the loan application process.

Structural Condition

Main property structures like walls and roofs must not show any sign of damages that cause structural instability. Walls must be free from bulging, twisting or cracks. Roofs must also be leak-free and constructed according to updated local property standards. Roof replacement may be required if it has three shingle layers to complete with the standards.

Other Hazards

Other hazards like contaminants must inspected before a property will be available for sale. The entire neighborhood and ground must be free of radioactive elements that are proven toxic to humans and animals. Properties with lead paints must be inspected for cracks and peeling. These paints must be replaced or sealed to prevent the spread of toxic materials.

Although beneficial for property owners, a house's HVAC and electrical systems must be installed as per building codes. They must also be well-maintained to ensure new property owners won't compromise their safety.

Getting an FHA loan is now easy as FHA Loan Limits Arizona have become friendlier for future property owners. Knowing these inspection guidelines not only aid people to get approved of their loans, but also ensure their properties are safe for occupancy. Experts conducting these inspections can now be found online to assist sellers and buyers.