Fha Appraisal Photo Requirements

FHA appraisal timeline and requirements (self.RealEstate) submitted 6 years ago by jpetralia I’m a first time homebuyer and I’m starting to get stressed with the appraisal process.

APPENDIX D: VALUATION PROTOCOL The appraisal process is the lender’s tool for determining if a property meets the minimum requirements and eligibility standards for a FHA-insured mortgage. Underwriters bear primary responsibility for determining eligibility; however, the appraiser is the on-site representative for the lender and provides

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The article provides an overview of FHA home appraisal requirements in 2014. It explains what the appraiser will look for during his visit, general reporting requirements, and other aspects of the FHA appraisal process. This article is intended for home buyers and mortgage shoppers who are considering a government-backed home loan.

Using MLS photographs for comparable sales. In its September 2017 Bulletin, Freddie Mac updated its appraisal requirements.One change worth noting is the use of MLS photographs for comparable sales. Freddie Mac now allows copies of MLS photographs to be used for comparable sales without an explanation from the appraiser.

The appraiser must have a complete set of the plans and specifications and the Builder Certification in order to do the appraisal (as described in Section C). The appraiser will perform the appraisal and call for a final inspection to be completed by a FHA Fee Inspector; or, when applicable, the local authority or equivalent.

Two of the three appraisal guidelines require the appraiser to take a photo of the comparables. Most of the time a lender/client will order the appraisal as a Fannie Mae, or Freddie Mac or FHA. But it is not uncommon for a lender/client to shop the loan around and the loan that was going to Fannie Mae ends up going FHA.

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FHA-approved homes must comply with energy-efficiency rules. These regulations vary with changes in the law and advances in technology. You can find more information on specific guidelines by area and.

FHA requires that the appraiser observe the attic for evidence of needed repairs and non-compliance with FHA property eligibility requirements. If the appraiser cannot observe the entire attic, a head and shoulders observation along with an explanation from the appraiser regarding why the entire attic could not be observed is sufficient .