fha appraisal vs conventional

I do many many FHA transactions and they are a great program. Looks like you are reducing your interest rate by 1.5% – That is great – The only things that are different when it comes to an FHA vs a Conventional Appraisal is that the Appraiser will be looking the safety hazards such as Missing Handrails, major defects, chipping paint, etc.

Is there a difference between FHA loan appraisal and conventional loan appraisal? I gave an offer on a house for 245,000 and the appraisal came in at 230,000. The listing agent claims that, since it is a FHA appraisal, it did not appraise for 245k and that a conventional loan appraisal would come at 245k. How true is that? Please let me know

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When buying a home with financing, the lender must agree with the home’s valuation. To do so, they usually order an appraisal, with conventional and FHA appraisals having a slightly different process.

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Do you know the difference between an FHA Appraisal & Conventional Appraisal? FHA and conventional appraisals used to have vastly different guidelines and requirements. Over the last few years, the industry as a whole has tightened appraisal guidelines, while FHA loosened theirs in 2005. These changes have blurred the once distinct line between.

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Do Conventional Appraisals Require Repairs?. Appraisers will consider any health and safety factors before recommending the house be given a conventional loan. An appraiser may require something be fixed as a condition before a loan can be approved.. FHA Home Appraisal Requirements.

 · Conventional mortgage appraisals use one of three valuation methods to determine a point of value. FHA Mortgage Appraisals. Because the FHA insures their mortgage on behalf of eligible borrowers, the FHA requires their home appraisal address certain factors of the home before granting financing. While the FHA orders an appraisal to protect.

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An FHA loan is a type of home mortgage insured by the federal housing administration (fha) and offered by an FHA-approved financial institution. This insurance gives banks, credit unions and other lenders more leniency to approve mortgages outside conventional loan requirements.