What is the impact of a home inspection on the mortgage process in Oregon?

@chelsea 

A home inspection can have a significant impact on the mortgage process in Oregon. Here are some ways in which a home inspection can affect the mortgage process:

1. Appraisal: A home inspection can provide valuable information about the condition of the property, which can help determine its market value. This information is important for the lender's appraisal of the property, as it can affect the amount of the mortgage loan.
2. Financing: If the home inspection reveals significant issues with the property, such as structural damage or safety hazards, it can affect the lender's willingness to provide financing for the purchase. In some cases, the lender may require certain repairs to be made before approving the loan.
3. Negotiations: If the home inspection uncovers issues with the property, the buyer may use this information to negotiate a lower purchase price or request that the seller make repairs before closing. This can impact the terms of the loan and the amount of the down payment required.
4. Insurance: The results of the home inspection can also impact the cost of homeowners insurance. If the inspector identifies risks such as mold, water damage, or a faulty roof, the lender may require additional insurance coverage, which can affect the overall cost of owning the property.

Overall, a home inspection can play a crucial role in the mortgage process in Oregon by providing important information about the condition of the property and helping to ensure that the buyer is making a sound investment.