If you have ever bought or sold real estate with FHA financing you know that HUD/FHA loans are a little different than conventional loans. In an effort to keep everyone updated I thought I would share some information HUD/FHA provided recently. FHA does not automatically require inspections to be made on all loans, however several [...]
Entries Tagged as 'FHA'
FHA rules for termite inspections
March 5th, 2012 by Tom Horn · 4 Comments · Appraisal Tips, FAQ's
Tags:appraisal guidelines·FHA·fha appraisal guidelines·fha rules·pest·pest inspection·termite inspection
What Red Flags Can Kill A Birmingham, AL Area FHA Appraisal?
October 18th, 2011 by Tom Horn · 2 Comments · Appraisal, Appraisal Tips, FAQ's
Have you ever wondered if a house would pass an FHA appraisal inspection? FHA does have more stringent appraisal guidelines than conventional loans but if you know what to look for then you can be ready before any problems come up. I have included some of the top problems I have seen in my 20+ [...]
Tags:Alabama·Appraisal·Birmingham·FHA·FHA repairs·jefferson county·MPR·red flags·shelby county
FHA Repair Item…or Not?
July 5th, 2011 by Tom Horn · 2 Comments · Appraisal, Appraisal Tips, FAQ's, Home Improvement, Realtor Tips
I get a lot of questions about FHA appraisals and what types of repairs are required, and which ones are not. As I have stated in a previous blog post, most items of repair in an FHA appraisal are related to safety, soundness, and security. Some items will definitely need to be repaired before the [...]
Tags:Alabama FHA appraisals·FHA·FHA Appraisals·FHA repairs·FHA Tips·HUD·HUD Minimum Property Requirements·MPR
FHA Appraisal Red Flag: Water In The Basement
February 16th, 2011 by Tom Horn · 2 Comments · Appraisal, Photos From The Field
I recently did an inspection on a property that was being purchased with FHA financing. I’m always asked by real estate agents, buyers, sellers, and mortgage lenders, “what do you look for when you do an FHA appraisal compared to a conventional one?” One of the items we look for is moisture in either the [...]
Tags:Birmingham AL FHA Appraiser·FHA·HUD·MPR·water in basement·water in crawlspace·wet basement·wet crawlspace
Birmingham, Alabama Real Estate Agent Tips: What is an MPR?
October 27th, 2010 by Tom Horn · 9 Comments · Appraisal Tips, FAQ's
I talk with real estate agents quite a bit in my day to day work as a real estate appraiser. It seem like FHA appraisal requirements are the most confusing to them in relation to what appraisers look for during our appraisal inspections. By knowing what an appraiser looks for, the agent can better prepare [...]
Tags:Alabama FHA appraisals·FHA·FHA Loans·FHA Requirements·FHA Tips·HUD·HUD Minimum Property Requirements·MPR·Realtor Tips
FHA Tip: Turn The Water On To Save Your Borrower Money
March 14th, 2010 by Tom Horn · 4 Comments · Appraisal Tips
I recently did an FHA appraisal on a property. The home was relativily new so there were not major issues with peeling paint, inadequate electrical service, or other typical concerns. The only issue was the fact that the water had not been turned on. The property was a foreclosure so this is not untypical, however [...]
Tags:Alabama·Alabama FHA appraisals·Alabama Mortgage Loans·Appraisal·Appraisal Inspection·FHA·FHA Loans·FHA Requirements·FHA Tips·HUD Minimum Property Requirements·MPR·Realtor Tips·Tips
Is Peeling Paint Killing Your FHA Loan?
February 27th, 2010 by Tom Horn · 7 Comments · Appraisal
I recently did an inspection for an appraisal on an FHA refinance loan. It was an older home that had been undergoing some updates and renovations. One of the biggest problems I see on older homes, and one which this home had, is peeling and chipping paint. This is not an issue with conventional loans [...]
Tags:Alabama·Alabama Mortgage Loans·FHA·FHA Requirements·FHA Tips·HUD·Lead Paint·MPR·Paint·Tom Horn
Realtor Tips For FHA Appraisals
February 25th, 2010 by Tom Horn · No Comments · Appraisal
In recent months FHA financing has been on the increase. With the decline of the sub prime lending market, and related creative financing programs, many lenders have been offering FHA loans to many homeowners for refinancing and home purchases. Current FHA requirements are not as stringent as they once were. If you are interested in [...]
Tags:Alabama FHA appraisals·Birmingham Alabama Real Estate Appraiser·FHA·FHA Appraisals·FHA Loans·FHA Tips·HUD·HUD Minimum Property Requirements·Realtor Tips





