Post-Storm Inspection and Your Mortgage in Florida: The Re-Inspection Lenders Require After a Hurricane
A post-storm inspection mortgage Florida lenders order after a declared disaster confirms the home was not damaged between the appraisal and funding. Loans in the declared area wait for it. Sellers, buyers and refinancers should expect it.
Educational content only. This article is for informational purposes and does not constitute financial, legal, or lending advice. Loan programs, rates, and eligibility requirements change frequently. Consult a licensed mortgage professional before making any borrowing decision. Mortgage Capital | NMLS# 1859012 | Licensed in Florida.
A post-storm inspection mortgage Florida lenders order after a federally declared disaster confirms the property was not damaged between the appraisal and funding.
Every loan in the declared area waits for it. Buyers, sellers and refinancers should expect it in hurricane season. Our guide to named storm binding suspensions in Florida covers the insurance side of the same week.
Why lenders require it
Agency and government rules require a property to be in the same condition at funding as at appraisal.
The Fannie Mae disaster guidance sets the policy.
A declared disaster raises the question for every property in the area.
An inspection answers it.
Loans do not fund until it does.
What triggers it
A FEMA disaster declaration for the county.
Some lenders trigger on a named storm's landfall regardless.
The appraisal's effective date before the event.
Loans in process, not loans already funded.
The lender's own policy sets the details.
What the inspection is
A visit by the appraiser or an inspector with exterior and often interior photos.
A certification that the property is free of damage, or a list of damage.
See our guide to home inspections versus appraisals in Florida.
A day or two after access is safe.
A fee, usually paid by the borrower.
If there is no damage
The certification goes in the file and the loan funds.
See our guide to what happens at closing in Florida.
Days of delay, not weeks.
Rate lock extensions are often waived for storm delays.
Ask.
If there is damage
Repairs before funding, or an escrow holdback for minor items.
See our guide to escrow holdbacks in Florida.
A new appraisal if value is affected.
The seller's insurance claim on a purchase; your claim on a refinance.
See our guide to hurricane insurance claims and your mortgage in Florida.
Purchases
The seller owns the risk until closing under the Florida contract.
See our guide to contract contingencies in Florida.
The contract's casualty clause sets the buyer's options if damage exceeds a threshold.
Repair, credit or cancel.
The inspection is the evidence.
Refinances
Your own home; your own claim.
See our guide to rate-and-term refinancing in Florida.
Minor damage with a claim in process can still close with a holdback at some lenders.
Major damage waits for repair.
The rescission period runs after funding as usual.
Appraisal waivers
A loan with an appraisal waiver still needs a post-disaster inspection at most lenders.
See our guide to appraisal waivers in Florida.
The waiver assumed a condition; the storm may have changed it.
A quick exterior inspection.
Rarely a problem.
Insurance binding at the same time
Carriers suspend binding during the storm and may require their own inspection after.
See our guide to Florida homeowners insurance cost.
A policy bound before the storm stands.
A claim on that policy is the seller's or yours depending on ownership.
Two inspections, two purposes.
Flood versus wind
The inspection notes water lines and wind damage separately.
See our guide to flood insurance in Florida.
Flood damage is a flood claim; wind damage is a homeowners claim.
Both delay funding until addressed.
Photograph everything before cleanup.
Condos
Building damage is the association's claim; unit damage is the owner's.
See our guide to condo questionnaires in Florida.
A damaged building can fail the lender's project review after a storm.
The questionnaire may be refreshed.
Expect a longer delay on a damaged tower.
New construction
A home under construction is inspected by the builder and the lender's inspector after a storm.
See our guide to construction loan draw schedules in Florida.
Builder's risk covers damage during the build.
The certificate of occupancy may be delayed.
Locks extend.
Timing and access
Inspectors cannot reach flooded or closed areas for days.
Power and road closures delay it.
See our guide to closing date delays in Florida.
The lender schedules as soon as access allows.
A week is typical after a major storm.
Costs
A modest inspection fee, sometimes absorbed by the lender.
Rate lock extension fees, often waived.
See our guide to rate locks in Florida.
Moving and storage costs from the delay.
A contract clause allocates them.
A worked closing
A purchase with an appraisal in August and a closing set for mid-September.
A hurricane makes landfall two days before closing; the county is declared.
The lender orders a post-disaster inspection; the appraiser visits four days later and certifies no damage.
The loan funds the next day with the lock extended at no fee.
The seller's tree damage went on a small holdback.
Sellers during the wait
Secure the property, document damage and file any claim promptly.
Cooperate with the inspector's access.
Small repairs done before the inspection help the certification.
Keep receipts.
The buyer's lender is waiting on you.
Where to start
Ask the lender for its disaster inspection policy if you are closing in season.
Photograph the property before the storm and after.
Then start a conversation and we will keep the file ready to fund the day the inspection clears.