#HOME APPRAISAL CHECKLIST EQUITY LOAN FREE#

The property’s utilities, including water and gas, will be examined to ensure that they are free of leaks. The foundation will be examined for large cracks or accumulation of moisture. It must be free of vermin and relatively dry. Must be accessible, and measure a minimum of 18 inches deep from the bottom of the floor beams. Additionally, the attic space must be readily accessible. Must be dry and free of any infestation of vermin, including mice, rats, or bats. Mandatory repairs to the property’s roof must be performed by a roofer that receives approval from the lender. Must be capable of keeping moisture out of the home, and must be in a condition that requires no immediate maintenance. FHA Inspection Checklist of Specific Issues Additionally, these repairs must be completed by a licensed or registered worker and must be verified by an FHA-approved appraiser or another qualified party. Structural damage, standing water, malfunctioning or inoperable mechanical systems, and substandard paint surfaces must be repaired prior to FHA loan approval. Moreover, inspectors will ensure that no infestations, whether rodent or insect, exist on the property.Īll doors and stairs must be in place and secure, and any well or septic system must also be functional. For example, homes with pools must demonstrate that the pool pump is functional and that the water is safe. Several factors are examined in addition to mechanical and structural considerations. Additionally, any toilets, sinks, bathtubs, and showers must be functional at the time of the inspection. Although the FHA does not require that the home possesses a functional air conditioning unit, home heating must be operational.įor plumbing, inspectors will verify that hot water is accessible and that no issues exist including leaks or insufficient water pressure. Inspectors will verify that the switches and outlets are functioning, and that wiring is not tattered, improperly secured, or exposed. They'll look for any malfunctioning or irreparable problems with the electrical, heating, and plumbing. The inspector will also verify that the grading does not allow for standing water to accumulate around the property.įHA-approved appraisers will inspect the mechanical systems of the home. Roofs will be reviewed for any missing or broken shingles, and signs of leaking. Structural Inspection Considerationsĭuring an FHA inspection, the property will be evaluated for any potential problems in the home’s foundation, walls, floors, roof, paint, and drainage.

You can also see a visual of this checklist here: FHA Inspection Infographic. Use this FHA Inspection Checklist to familiarize yourself with what the appraiser will look for in property requirements and considerations. These inspections are a supplement to the FHA-approved appraisal. Qualifying for an FHA loan for your new home must first satisfy a strict FHA inspection, including criteria for health, safety, and security.

Home appraisal checklist equity loan