Who pays for a termite inspection on a VA loan in Florida, Alabama, or Texas?
Unlike USDA loans, a termite inspection for a VA loan is generally required by the guidelines. In today’s video, I will discuss the payment options for termite inspections and also explain what exceptions exist.
Plus, download our FREE Loan Comparison chart and see the features of USDA, VA, FHA, and Conventional loans compared to each other in one simple chart. In it, you’ll discover maximum financing amounts, fees, waiting periods, and more. Download it now!
Who pays for a termite inspection on a VA loan in Florida, Alabama, or Texas
Unlike USDA loans, which state that “termite/pest inspections are not required unless the lender, appraiser, inspector or
State law requires the inspection to confirm the property is free of active infestation“, VA loans generally require a termite inspection. Further, while the VA program prohibits the veteran from paying certain charges, this does not mean that the seller automatically has to pay for a termite inspection or any other prohibited charges.
Many times we hear that sellers are resistant to the VA loan programs because of the concern that they will be required to pay additional fees. However, the seller will only pay for what they have agreed upon as part of the sales contract.
VA guidelines state that the termite inspection has to be paid for by “some party other than the veteran.” This could be the lender, realtor, or even the seller if so negotiated.
Can a veteran pay for a termite inspection in Florida, Alabama, or Texas?
While a majority of states prohibit a veteran from paying for a termite inspection, the VA has identified certain states where exceptions apply.
Florida, Alabama, and Texas are among the states that currently allow the veteran to pay for the termite inspection.
While the list of exceptions does vary from the type of fee and state or territory, please consult with your local VA Regional Loan Center for any further questions.
VA Loan Summary
In summary, remember the following:
- A veteran can pay for a termite inspection in some states.
- There are certain charges that a veteran may not pay.
- The seller is only required to pay for what has been agreed upon as part of the sales contract.
With VA in-house underwriting and upfront systems in place, my team can review and assist you with:
- VA Certificates of Eligibility
- Calculating the VA entitlement
- Determining VA income eligibility
- VA Minimum credit qualifying questions
Qualifying for a home loan can be both difficult and overwhelming, but when you work with a lender that specializes and understands the loan process, it is a match that can open the door to homeownership.
Remember, as a VA approved lender, we are here to help! Download our FREE Loan Comparison chart and dig into the difference between each loan type.
Finally, if you have any qualifying scenarios or need help with a new pre-qualification, simply call or email to discuss your scenario. Let us show you the “Metroplex” difference!
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I want everyone to make it a great day and look forward to seeing you right here for the next quick tip of the week!