December 2, 2021

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Learn More About Home Loans: Appraisals & Inspections

Mortgage Loan Approval During Coronavirus

It’s important to learn as much as you can about the home loan process when planning and saving for your new mortgage. If you are a newcomer to the home loan process, there are some good resources that can help you be more informed borrower.

The less informed you are, the more likely you are to have some kind of regret at the end of the home loan process. The more you know, the more confident you will feel about your choices along the way.

One important issue for many borrowers is the FHA appraisal process. Are you in-the-know about what happens during the appraisal, what it is intended to do and why you should never trust the appraisal to provide you the information that only a complete home inspection can?

Appraisals are a tool for the lender. Borrowers should NEVER rely on the appraisal alone without arranging for the optional but extremely important home inspection. Do you know why?

Borrowers should know that buying a home without getting a home inspection means the same thing as buying a used car without test-driving it or looking under the hood.

There are many issues that may be hidden in the home that an FHA appraisal will never catch. Only a home inspection is able to find these issues–they are designed to take a much closer look at the property than an appraisal.

And finally, remember that there’s no recourse available from the FHA or your lender if you buy a home, skip an inspection, and discover defects or other problems with the property after moving in.

Bruce Reichstein - FHA News Author

By Bruce Reichstein

April 16, 2021

Bruce Reichstein has spent over three decades as an experienced FHA and VA home loan mortgage banker and underwriter where he was responsible for funding “Billions” in government backed mortgage loans. He is the Managing Editor for where he educates homeowners on the specific guidelines for obtaining FHA guaranteed home loans.

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About was launched in 2010 by seasoned mortgage professionals wanting to educate homebuyers about the guidelines for FHA insured mortgage loans. Popular FHA topics include credit requirements, FHA loan limits, mortgage insurance premiums, closing costs and many more. The authors have written thousands of blogs specific to FHA mortgages and the site has substantially increased readership over the years and has become known for its “FHA News and Views”.

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