HomeLight

JULY 31, 2022

While an appraisal is not in the same category as the more in-depth home inspection, different mortgage types (such as conventional loans or government-backed FHA , USDA, or VA loans ) have different minimum property standards. How does a buyer’s loan type affect minimum property standards?

Closing 98

Closing FHA loan Purchase and sale agreement Inspection 98

HomeLight

MAY 28, 2021

An inspection can tell you upfront the exact issues with the house so you know what money you might have to spend down the line. It’s also wise to add an inspection contingency in your purchase contract , so if the inspection shows more repairs than you expected, you can walk away.

As-is 71

As-is Inspection Title search Inspection contingency 71

HomeLight

DECEMBER 29, 2021

If the borrower defaults on the mortgage, the lender wants protection against lending more than it might be able to recover. FHA and VA loans have additional requirements an appraiser must evaluate, most of which relate to safety and soundness. Learn how different loan requirements can impact an appraisal.

Purchase and sale agreement 105

Purchase and sale agreement VA loan Loans Agents 105

Redfin

FEBRUARY 10, 2021

However, there are other types of home loans, such as FHA-backed loan, Conventional and VA loans if you have served in the military and qualify, that may allow you to put down less than twenty percent while avoiding PMIs altogether. Finally, figure out what type of loan is right for you. Get Pre-approved.

Debt-to-income ratio 75

Debt-to-income ratio Pre-approval Inspection Purchase and sale agreement 75