When securing a mortgage for a home, the Veterans Affairs (VA) loans come with their own sets of requirements and benefits. One such requirement is a termite inspection.
Here at Florida Termite Inspections, LLC, we can provide a VA loan termite inspection for your future home. However, there are five key things you should know before scheduling a VA loan termite inspection:
- It’s mandatory. The VA loan termite inspection is mandatory in most states, regardless of the home’s age or condition.
- The seller usually covers the cost. With a VA loan, the buyer is not allowed to pay for the termite inspection in many states. Here in Florida, for instance, the seller will cover the cost of a VA loan termite inspection.
- The inspection is comprehensive. A VA loan termite inspection is generally more comprehensive compared to other inspections required by different lenders. For example, a VA loan termite inspection will include the main living structure and all other buildings and structures on the property.
- Your loan won’t be approved until termite issues are resolved. If the VA loan termite inspection reveals an active infestation, treatment is mandatory, and the VA won’t approve the loan until the issue is resolved. This is why it’s essential to schedule your inspection well ahead of time to take care of any treatments and repairs.
- Reports are only valid for 90 days. The VA usually requires a new termite inspection if the existing report is more than 90 days old.
Understanding how a VA loan termite inspection works can help you better navigate the home-buying process. Knowing what to expect can make your path to homeownership a little smoother, so if you have any questions or would like to schedule an inspection, please contact us today.