What are some of the things FHA appraisers look for that conventional appraisers don't?

I'm in the mortgage business, but I have never been involved with FHA. I'm just wondering what an FHA appraisal is like compared to a conventional one.

3 Answers

  • Anonymous
    1 decade ago
    Favorite Answer

    The FHA has revised its inspection procedure and it is generally no more onerous than a regular home inspection (and in some cases less burdensome). Nightmares of losing a deal over the FHA inspection are largely things of the past. For more information see FHA Mortgagee Letter 2005-48:

    "In a continuing effort to reform and standardize its appraisal requirements,

    FHA has shifted from its historical emphasis on the repair of minor property

    deficiencies and now only requires repairs for those property conditions that

    rise above the level of cosmetic defects, minor defects or normal wear and

    tear. FHA Roster Appraisers are reminded to report all readily observable

    property deficiencies, as well as any adverse conditions discovered performing

    the research involved in completing the appraisal, within the appraisal

    reporting form. Lenders should use professional judgment and rely upon

    prudent underwriting practices in determining when a property condition poses

    a threat to the safety of an occupant and/or jeopardizes the soundness and

    structural integrity of the property, such that additional inspections and/or

    repairs are necessary."

  • Anonymous
    1 decade ago

    FHA is alot more indepth checking of the overall property. Windows, ventilation, water pressure, temp, attic space, crawlspace if you have one, roof, plumbing fixtures. It takes a good hour or more to complete one inspection for FHA.

    So if you plan to be there, give them a list of any improvements you've made, i.e.; new roof, new finance, remodeling, other than painting and general cleanup. Then sit on the sofa. Do not follow them around.

    Source(s): Realtor/Appraiser-MN
  • 1 decade ago

    FHA is a nightmare in comparision to a normale inspection.

    FHA wants everything to be fixed. They will not allow credits at closing, for say a substandard roof, water damage, or a faulty heating system.

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