In order to make sure that during the loan processing your credit and qualification information does not change and affect your ability to be approved, be sure to follow our Do’s and Don’ts below. This information is important from the day you apply until the day your loan closes and funds.
GFCI outlets in the kitchen and all bathrooms; exposed fuse boxes or wires will be flagged.
There cannot be cracks in the foundation
Handrails have to be on all staircases with three steps or more (this includes but isn’t limited to, steps outside to a deck and stairs in the basement).
A central heating source is required and has to be 100% operational and safe. If a home only has one source of heat and it’s from a wood stove or a pellet stove, it will need a central heating system. The central heating system must be able to heat the home for a minimum of 30 days without being attended to.
Interior walls must be complete. Sheet rocked walls that are unpainted will not be accepted.
Moisture found inside of a home will be flagged by an appraiser. Basements are not an exception to this rule.
If any windows or doors have cracks in them, they have to be replaced prior to the appraisal.
Garages, sheds, and/or outbuildings also have to pass the same guidelines as above and must not have chipping/peeling paint or exposed raw wood.
The inside and outside of the home must be painted; peeling paint will not be accepted.
Any exposed raw wood on the exterior of the home that is untreated with paint or stain will be flagged.
Shingles that are curling or missing will be flagged; if the appraiser thinks there is less than five years left on roof, it will be flagged.
The location of the septic tank or leach field must be known. Issues could arise if the septic tank has not been pumped or serviced in over five years.
The location of the well needs to be known. If it’s a dug well, please contact your Realtor or lender immediately. A water flow test and complete safety report will be required.
Window and Door Sills
Rotting wood, chipping or peeling paint will be flagged.
Note: Please ensure that your home is properly prepared for an appraisal; appraisers adhere closely to the regulations that are put in place and it will assist with preventing any delays.