VA / FHA Certified WDO / Termite Inspection Requirements
Apr 17 | ( 0 ) Comments
There are many opportunities given by the US government to assist you in the purchase of a home. There are two main options that are offered which are VA (for Veterans) and FHA (for First-Time Buyers) Loans. These loans offer more opportunities for financing, usually have lower rated and as long as all of the requirements have been fulfilled your loan could be guaranteed. However, because this are Government guaranteed loans there are more requirements that need to be completed before the loan can be issued out. Some of these requirements are that you will live on that property for the duration of the loan and that it will appraise for the required amount. However, one of the most important requirements is to receive a full section one and two certifications from a licensed inspector on the property; which will mean that there are no infestations, damage or easily infested situations.
As mentioned, there are two types of findings which will be the main concern of the WDO inspection. WDO stands for Wood Destroying Organisms, which are basically structural pests that can damage the integrity of your structure. Section 1 items will be any active infestations or damage derived from a WDO; an example of this would be any termite infestation or damage. Section 2 items will be any areas or situations that might attract, bring or help thrive any WDO infestations; an example of this would be roof or plumbing leaks which cause an excessive moisture condition. The majority of residences over 10 years old (and sometimes newer) will have at least one finding, which is why it is a good idea to be proactive and try to resolve any situation that you notice as soon as possible. This will avoid any excessive damage in the long run and assist you in completing the certification process more affordably and efficiently.
Here are some of the additional requirements that VA / FHA Loans have:
- An initial inspection has to be completed on the property to see if there are any wood destroying organisms infestations or damage from them. The inspection will as well be looking at all the wood/structure for any areas that could invite an infestation in like damaged stucco or water damage/leaks.
- The inspection will be completed on the main structure (house) and any attached structures like patios, decks, benches, porches, carports, etc.
- Form NPMA-33 needs to be completed and certified by the licensed inspector stating what if any infestations/damage/concern areas were found at the structure.
- If any infestations/damage/concern areas were found at the property they will need to be taken care off as a loan requirement. All of the treatments and repairs have to be completed by a fully licensed and certified company like GC Termite Control.
- Many times the government organization in charge of overlooking the loan underwriting process will send their own inspections to be sure that all of the requirements have been fulfilled. If there were repairs completed, they will send an inspector after to make sure that all of the repairs have been completed as recommended by the licensed inspector and up to code.
- If structural damage is spotted by an inspector, a structural inspection might be required on the property to make sure that the house is still structurally sound.
Although the requirements to receive a VA or FHA loan are more than those of a conventional loan, the benefits from obtaining one are even greater, and it is highly recommended that if you do qualify for this type of loan to use it. The greatest benefit is that lenders will offer more competitive rates with a lower down payment as there are backed by the federal government. Here at GC Termite Control we are used to handling VA / FHA Inspections on an everyday basis and our inspectors/staff are fully trained and certified to assist you in acquiring the necessary knowledge and the required forms and certification in the easiest and most affordable way possible.
Our team has over 10 years of experience working with VA and FHA Loans, our expertise will assist you in clearing the requirements for the loan in the most effective way possible. We have the correct forms and methods that will be approved by your loan officer and the proper communication channels to deliver them in a prompt matter. Schedule your appointment today by calling us at (619) 421 – 2101 or by using our Online Scheduling System
Gilberto A. Cortez | Licensed Inspector