On today’s Talking Texoma, Dee King is with local mortgage loan expert, Justin Houston.  Justin is with Union Square Mortgage and is sharing his thoughts on home inspections and home appraisals.  Home inspections are optional, but he strongly recommends that people get one. 

The difference between a home inspection and a home appraisal is that a home inspection is going to be more in-depth.  The inspectors will go in and look at the nuts and bolts of what you are buying.  They will look at the wiring, the plumbing, and the HVAC in the foundation.  They will make sure that what you’re buying is a safe and sound investment for you and your family.  A home appraisal is required in almost every instance.  It gives the lender the value of your home based on other comparable home sales in that area.  It lets the mortgage company know how much they can lend to the buyer. 

After the home is inspected, the realtor will write the contract.  Then, there will be an option period where if there are any problems that pop up, the buyer can opt out of that contract with minimal expense and minimal effort.  So, Justin recommends that the buyer order the home inspection early. 

So, if you are in the market for a mortgage loan officer, call loan expert Justin Houston at Union Square Mortgage.