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Mortgage Glossary

Home Inspection

Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker

A home inspection is a professional examination of a property's condition, covering structure, systems, and major components.

What Home Inspection means

It's typically ordered by the buyer during the inspection contingency and informs whether to proceed, renegotiate, or cancel. It differs from an appraisal, which estimates value rather than condition.

Florida example

A Florida buyer's inspector finds an aging roof and a failing AC. Within the standard As-Is contract's 15-day inspection period, the buyer can request repairs, a credit, or back out without losing the deposit.

Why buyers get one

A home inspection is a full check of a property's condition before you buy. A licensed inspector reviews the roof, systems, structure, and more.

It is not required by the lender, but it protects you. The report shows problems you might not spot on a walkthrough.

What happens next

If the inspection finds issues, you can ask the seller to fix them or lower the price. In Florida, checking for wind and water damage matters most.

We guide buyers through this step every day. Apply now and we will connect you with trusted local inspectors.

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Official resources

Verify the details for your own situation against these government and agency sources: CFPB Owning a Home guide and HUD homebuyer resources.

Related Mortgage Terms

Home WarrantyA home warranty is a service contract that covers repair or replacement of major systems and appliances for a set period, separate from homeowners insurance.Homeowners Association (HOA)A homeowners association, or HOA, runs a community and sets its rules. It collects dues to maintain shared spaces.Homeowners InsuranceHomeowners insurance protects your home and your belongings. It also covers you if someone is hurt on your property.
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