- Dec 30, 2002
- Professional Status
- Certified Residential Appraiser
- North Carolina
A lender tells me that a termite report is not required on an FHA streamline refi. Is this true? I have always required termite inspection on all FHA appraisals. Also I have been told that on the "Notice to Home Buyer" in the space where you put "Y" for yes, that you only put Y if you know there is a problem. For example, you require termite inspection but you observe no termite damage, you leave the problem field blank and state that a termite report is required in the comments field, while if you observe termite damage you a Y in the problem field. Any help would be appreciated.