VA LOAN INSPECTIONS
Each VA Loan requires a complete termite inspection and all findings completed as a loan condition. The VA also requires the termite company to provide an NPMA-33 form in order to fund the loan. A-1 Bonded Termite, Inc. is a VA loan specialist and knows what it takes to avoid any termite delays in the transaction.
We have over 30 years of VA Loan transactions and many happy and returning customers. Make sure to call A-1 Bonded Termite for your VA Loan needs, we will take care of everything you need for your VA loan.
You could apply for a VA (Veterans and Active Military) loan if you served in the military. In regards to cadets or midshipmen of a U.S. Military Academy, they must serve 90 consecutive days wartime, 181 days active service during peacetime, or six years in the National Guard or Reserves. There are also exceptions for service-related disabilities, or if you are the spouse of a service member that has died in the line of duty.
To see if you qualify for a VA loan take the questionnaire on Military.com
Obtaining a VA Loan
To obtain a loan, you will have to provide a Certificate of Eligibility for the home before meeting requirements. In the first steps, you have to have a required appraisal inspection. Conducting inspections lets the Department of Veterans Affairs (VA) know the current status of the living conditions of the home. It takes about two weeks to complete the form for the appraisal. This is similar to many other typical residential home loans, called the Uniform Residential Appraisal Report. The main difference is, the appraiser also inspects to find any urgent required repairs. Also, if there are any provisions needed that may affect the health of the veteran that will live there.
Certified Inspections are Required
A significant part of that process is to ensure the home has no sign of pests or remnants of a previous pest infestation. This crucial step is an integral part of our business as A-1 Bonded Termite, Inc. is certified for this type of inspection and will help make the process smooth and pain-free. We evaluate the condition of any property that was previously infested and can help repair, remove, and replace damaged wood from wood-boring pests. If we find a pest problem, A-1 Bonded Termite Inc. will remove the pests and help you pass the certification and keep the home pest-free.
The Benefits of a VA Loan
The benefits of a VA loan include a zero dollars down in purchasing a home, never paying private mortgage insurance (PMI), and you have the opportunity to streamline, which could reduce the amount of your monthly payments lower payments. Also, as of January 1, 2020, Veterans may obtain no down payment VA backed loans in all areas of the country, up to the Maximum Conforming Loan Limits.
With every loan, fees often apply, but not always. The significant change in 2020 is Purple Heart recipients are exempt from VA loan fees, and this can save you thousands of dollars. There have been other changes as well. For instance, the regular military percentage has slightly gone up since 2019, but down for Reserves and Natation Guard. If you already have a VA Loan and would like to refinance into a lower interest rate and lower their monthly mortgage payment, you can apply for the VA Streamline or Interest Rate Reduction Refinance Loan.
Passing Your Inspection
First, the structure must be on a solid foundation (so, RVs and mobile homes are not a possibility with a VA loan.) The VA loan inspections check for sanitation, structural stability, and the overall state of the property. The property must be free of termites, rodents, and other wood-destroying pests. The government issues no VA loans until addressing all problem areas found.
We may provide such treatments as positioned traps, removal of pest infestation, full property fumigation, and wood repair if required. A thorough certified inspection tells us if there is any sign of an infestation. Treatments and repairs require finishing before approval of a VA loan, and we ensure all infestations and repairs are 100% effective.