Main Content

Sign Up Now

Welcome Home | a blog by the Pujals Team

Is a Home Inspection Required for a Mortgage Approval?

Image of a house with a magnifying glass on top of itWhen you’re buying a home and going through the mortgage approval process, there are many things you must do; but is getting a home inspection one of them? The short answer is “no.” Typically, your mortgage approval is not contingent upon a successful home inspection.

Rather than a home inspection, your lender will require a home appraisal.

Home Inspection versus Home Appraisal – What’s the Difference?

A home inspection focuses on the condition of the property and all of the installed systems. It helps buyers identify any potential health and safety issues in the home.

A home appraisal focuses on determining the current market value of the house. The appraiser will use recent sales data in the local area, along with other tools, to figure out how much the property is worth in the current market.

In short, a home inspection protects the buyer. A home appraisal protects the lender. Since the home is technically the collateral used for the loan, your lender wants to make sure the property is worth what you’re paying for it.

Does this mean there’s no point in getting your home inspected? Of course not! Your home is probably one of the most expensive things you’ll ever buy. You want peace of mind knowing that you made a good decision and bought a home that’s structurally sound. Having a professional inspect your home provides exactly that. Should the home inspection reveal defects that you feel are too much to take on, you have the option to change your mind on the purchase (provided you listed that as a contingency in the offer). We always support our buyers who want a home inspection.

Image of a home inspection reportThe FHA Home Inspection

If you’re getting an FHA mortgage, you will be required to get an FHA home inspection. This is not the same thing as a traditional home inspection conducted by a licensed home inspector. The FHA home inspection is usually conducted by the home appraiser. FHA requires the appraiser to determine the market value of the property as well as the overall condition of the house. So while the FHA home inspection can give you some peace of mind, it’s certainly not the same as a true home inspection.

Ultimately, you can get a mortgage without doing a home inspection. The real question is, “Do you want to spend several hundred thousand dollars on a home without doing one?”

Whether you’re applying for a mortgage or wanting to sell your home, you can find many great real estate tips on our Facebook page. If you’re thinking about buying or selling a home, we can help! Contact us today!

Share this page on:

View More

About / Testimonials / Contact

Welcome

Welcome! We are glad you’re here. We developed this website to give you the most up-to-date Napa Valley real estate listings and the most reliable information for home buyers and sellers.

Not sure where to start? Check out our blog, vlog, and articles for information on buying and selling a home, design and staging tips, and real estate investor information.

Ready to buy? Be sure to browse our current listings.We are eager to show you your next Napa Valley home.

Relocating to the area? Read up on all the great communities that make up Napa Valley.

Welcome! We are glad you’re here. We developed this website to give you the most up-to-date Napa Valley real estate listings and the most reliable information for home buyers and sellers.

Not sure where to start? Check out our blog, vlog, and articles for information on buying and selling a home, design and staging tips, and real estate investor information.

Ready to buy? Be sure to browse our current listings.We are eager to show you your next Napa Valley home.

Relocating to the area? Read up on all the great communities that make up Napa Valley.

Is it time to sell your home? Why not have the #1 real estate team represent you?

We’re sure you have questions. And we are here to help. Contact us for information on anything real estate related.

[READ MORE]
About Us

Leading the Pujals team are Jerry and Susan Pujals, who is ranked as the #1 Sales Team for California, Coldwell Banker Brokers of the Valley. Jerry, a Senior Broker, and Real Estate Advisor began his career in real estate with Coldwell Banker Brokers of the Valley in 1997. Susan, a seasoned Real Estate Sales Consultant joined the organization in 2008, which established the formation of The Pujals Team.

Having received national recognition for their performance and many local awards, Jerry and Susan are proud to be affiliated with Coldwell Banker Brokers of the Valley, Napa County’s real estate market leader for more than 20 years.[Read more]

Reviews
“Jerry and his associates are the best! Jerry cares for the individual taking in consideration what the person wants and cares for, making the best choices for you. I truly recommend them because they treat you as family and they make the process so easy for you. They are one of a kind!! We decided...” - Lucy Arreola Read More
“Jerry and Susan Pujals are adept at representing both sellers and buyers in this fast-paced Napa market. We’ve seen their work, both as sellers and buyers, and can affirm they shine in both arenas. The Pujals team just finished helping us through multiple real estate transactions: two homes prepared, listed and sold, and one home...” - Jane Callier Read More