Your Corning Home Inspection: What to Know if You’re Seeking an FHA Loan
If you’re planning on scheduling a home inspection in Corning, NY, chances are that you may be pre-approved for an FHA loan. This type of loan has grown in popularity over the last several years. It only requires a small down payment in most cases, which makes it easy for you to get into the home of your dreams.
Your home inspection is going to be a major part of this process. FHA has certain guidelines that must be followed before they will finalize the loan.
A few weeks ago, we talked about the difference between your home inspection and your appraisal. Both are important, but the appraisal has the final say about what FHA requires. The right Corning home inspector can give you a heads up so that you know what to expect when the appraiser inspects the home. Let’s talk about some of the things they might point out.
The Grade of the Lot
If moisture is able to enter the basement or reach the foundation, it can cause a lot of damage. This is why the grade of the lot is so important. It should have a slope that will allow the water to move away from the house. If it doesn’t, it makes it very easy for water to get inside and cause problems. In extreme cases, flooding can result, or there can be severe damage done to the foundation.
This is one of the first things your home inspector will check. We usually carefully inspect the outside of the property first. If there is a grading problem, it will be brought to your attention right away.
Peeling and Chipping Paint
Peeling and chipping paint in your home can be a health and safety hazard. This is especially important for any house that was built prior to 1978. In older homes, the appraiser will check for any problems with the paint. If there is a problem with the paint, it will need to be fixed before the loan will process.
When you’re looking at the home with your naked eye, you may not notice any problems with the paint. However, your home inspector will be able to see it if it’s there. Whenever possible, we get up on the roof, and we use cameras to zoom in on every part of the exterior that we can’t see ourselves. You’ll definitely know if the home has any spots with peeling paint.
Handrails on Steps and Stairways
The handrail requirement is something that causes a lot of potential homebuyers to roll their eyes. However, FHA requires them for safety purposes. Fortunately, this is an issue that’s relatively easy for you to fix yourself.
At Precision Home Inspection, we can tell you if a particular stairway will require a handrail. In some cases, there may even need to be handrails on both sides of the steps. There’s no need to worry because we can point these areas out to you.
Buying a home is a huge step, and it helps to have a home inspector who knows what will be required for your FHA loan.
If you are ready to schedule your home inspection in Corning, Elmira or Horseheads, we’re here to help! You can reach us by phone or schedule it right online for your convenience.