Prepare for your home inspection

Found a good home inspector? Here’s what you’ll need to do to get ready for the inspection.

• Contact the property owner to confirm the date, time (during daylight hours), and estimated duration of the home inspection.
• Provide the home inspector with the buyer's full name, address, and phone number.
• Provide the home inspector with the home’s address, specific directions, and access or lock box information.
• If an appointment needs to be canceled or postponed, contact the home inspector at least 24 hours prior to the scheduled inspection.
• Turn on all utilities: gas, electric, hot water heater, and refrigerator.
• Inform the owner that appliances, systems and equipment will be inspected.
• Make sure the inspector will have access to the garage, closets, attics, etc.
• Advise the owner to remove all items that may block access to the air conditioner, hot water heater, attic, access panels, electric service panel, etc.
• Allow 2 to 2.5 hours for your home inspection (1 to 1.5 hours for a condo).
• Payment is expected upon completion of the inspection.

home inspection

A home inspection is an important way to protect your investment. Here’s how.
A home consists of many complex components, including structural framing, electrical, plumbing, heating and air conditioning systems. When you’re considering buying a house, you need to make sure that everything beneath the surface is in good shape. That’s why an extensive home inspection is both valuable and necessary.

During a home inspection, a licensed home inspector will do a visual examination of the home. This will give you an accurate evaluation of the home’s condition and let you know if there are any problems with the house that could affect its safety or resale value.
Home inspections are usually done 7 to 14 days after the contract is accepted. Make sure to choose your home inspector ahead of time, so you can stay on schedule.

Ask friends, colleagues, and your real estate agent for referrals. You can also look online for other reference sources.
Here’s what to look for in a home inspector:

• Experience. How many years have they been in the business and how many inspections do they do per year?
• Exclusiveness. Choose someone who specializes strictly in home inspections. Beware of contractors who do house inspections "on the side."
• Reporting. Find out what type of report will be issued—written, oral, or both. We recommend getting a detailed written report and a checklist. (A checklist alone may not include important details and information you’ll need.)
  
• Certifications. Make sure they are certified with a respected home inspection organization like the American Society of Home Inspectors (ASHI).
• Insurance. Does the inspector have Errors and Omissions Insurance? This can protect you should the inspector miss something in the inspection

Jumbo and Dreamarker Mortgage

Jumbo Mortgage 

Jumbo mortgage amounts are available up to $2 million (or more depending on your property location).

·         For amounts greater than conventional limits

·         Fixed-rate and adjustable-rate mortgages

·         Jumbo fixed-rate terms of 15, 20 and 30 years

·         Jumbo adjustable-rate terms of 5/1, 7/1 and 10/1 with 30 year term

 

DreaMaker Mortgage 

Depending on your situation, the unique features of this type of mortgage are designed to fit your needs:

• Only 5% required for downpayment—just 3% required from your own funds (flexible gift options are available)
•  Flexible funding options for closing costs
• Reduced mortgage insurance requirements
• Lower monthly payments compared to most other financing options

Additional mortgage considerations

Chase offers a variety of other loan options, like programs for low-income families and veterans. As you search for the right mortgage, make sure to ask if you qualify for any special loan programs. Here are a few options to consider:

FHA (Federal Housing Authority) loan

Chase offers FHA loan programs with low down payment requirements.

Down payment requirements as low as 3.5%

Flexibility if you have "less than perfect" credit

Fixed-rate mortgages insured by the government

Fixed-rate terms of 10, 15, 20, 25 and 30 years

VA (Veteran’s Affairs) loans (Hides content below)

The Veteran’s Affairs (VA) offer loan programs with little to no down payment (Opens Overlay) requirements.

Up to 100% financing

No monthly mortgage insurance

Loans are assumable by qualified buyers i.e. responsibility of the mortgage can be transferred over to qualified buyers.

Ability to apply for a future streamline refinance – Interest Rate Reduction Refinance Loan (IRRRL)

Fixed-rate terms of 10, 15, 20, 25 and 30 years

To download your DD 214, apply online for your VA Certificate of Eligibility (COE), or for other Department of Veterans Affairs (VA) benefits visit, visit www.ebenefits.va.gov (Opens Overlay), or call the VA Help line 1.800.827.1000.