Did You Know?

FHA loans are one of the best options for young, first-time home buyers who have not had as much time to save for a large down payment or establish a high credit score.

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The "Optional" Home Inspection


The "Optional" Home Inspection
The home you want to buy might seem perfect, or it may have a few flaws that are acceptable in the grand scheme of things. But what about issues you can’t spot just by walking through the property a few times?

A home inspection provides an unbiased, expert assessment of the property's condition, uncovering potential issues that might not be noticeable to the untrained observer. Add the home inspection to your to-do list for best results.

Think of it as a comprehensive health check for your potential investment. You should only commit to a home after it has been reviewed by a qualified professional and not just an FHA fee appraiser.

Why Do You Need A Home Inspection? Examples

A couple is interested in a beautiful Victorian-era home. The appraisal confirmed the asking price was reasonable, However, during the inspection significant cracks were discovered in the foundation, suggesting expensive repairs. Thanks to the inspection, the buyers renegotiated the price.

Another example? A family looking for a larger home finds one in a popular area. The house’s freshly painted walls and modern kitchen suggested a well-maintained property, but after the inspection, the buyers learned of basement water damage and a history of flooding due to inadequate drainage. 

The buyers chose to pass on the home. That scenario may have worked out differently if they had relied on the appraisal alone.

A final example: A retired couple examined a property listed as having a newly replaced roof. However, the inspection report revealed some new shingles layered over old, damaged ones. Is that the definition of “newly replaced?”

These examples represent only a few issues a home inspection may reveal. While it might seem like an additional expense, it's a small investment compared to the potential costs of unforeseen repairs and problems.

Never Skip the Inspection
  • Uncover Hidden Problems: Inspections reveal issues that might not be visible during your walkthrough.
  • Negotiate Repairs or Price: The inspection report provides leverage to negotiate repairs or a lower price.
  • Avoid Costly Surprises: This can save you from expensive repairs after you move in.
  • Make Informed Decisions: You should fully understand the property's condition so that you can make an informed decision about your purchase.
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FHA Loan Articles

Making Informed Choices About FHA Cash-Out Refinances

There are smart uses for cash-out refinancing loan proceeds and uses for that money that may work against the borrower. We examine some of those choices below, starting with using an FHA cash-out refinance for investment purposes. Is this a good idea?

Steps to Take if Your Appraisal Comes in Low

House hunters sometimes face a curveball when the appraisal for a home they want to buy with an FHA mortgage is lower than the offer. Is this a deal-breaker? Believe it or not, it isn't the end of the road. A low appraisal can sometimes be just a bump in the road. In other cases, you may wish to walk away from the deal. Here's your game plan to navigate this situation...

Buying Your Dream Home: Are Ready to Make Your Offer?

Buying a home with an FHA loan can be an exciting and achievable goal. This quick quiz helps you gauge your understanding of FHA loans and what it takes to make a winning offer on your new dream home. Take a few moments to answer the questions and see how prepared you are to navigate this crucial stage of your home-buying journey.

FHA Streamline Refinances in 2025

Is 2025 the right year for you to consider an FHA streamline refinance? These mortgages are for those who want a lower interest rate, a lower monthly payment, or to move out of an adjustable-rate mortgage and into a fixed-rate loan. We examine some of the critical features of FHA streamline refinances.

Buying Multi-Unit Property with an FHA Mortgage

Did you know there are FHA loans that let house hunters buy multi-family properties such as duplexes and triplexes? FHA rules for these transactions is found in HUD 4000.1, including owner-occupancy, require that one unit serve as the borrower’s primary residence. Some house hunters ask why this rule exists. Some believe the rule serves as a lender risk mitigation strategy.

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