How new FHA guidelines could cause appraisal costs to increase On September 14, 2015 the Federal Housing Administration (FHA) came out with a new and updated Single Family Housing Policy Handbook, also known as HUD Handbook 4000.1. This new handbook replaces the old 4150.2 handbook that appraisers have been using. The new policies in the […]
Do I have to repair it now, or can I wait until the loan closes?
October 3, 2013 By 3 Comments
I was speaking with a real estate agent friend recently about FHA appraisals and specifically about items that needed repair. Several years ago HUD made revisions to their guidelines regarding items that needed repair on an FHA purchase. I think they were attempting to make FHA loans more purchaser friendly because their requirements were much […]
Are you worried that the home you’re buying with screw in fuses may not meet FHA/HUD guidelines?
May 20, 2013 By 7 Comments
I was looking at a home this week, for an FHA loan, that had screw in fuses. Have you ever seen these? They use to be common years ago, however at some point they were replaced with circuit breakers. I have been asked by homeowners and real estate agents if these fuses meet HUD’s minimum […]
What is an acceptable form of heating and cooling for FHA appraisals?
January 18, 2013 By 4 Comments
I get questions all the time from buyers, sellers, and agents, about FHA/HUD standards as it pertains to the appraisal and what may or may not qualify. The main principle, as I have written about in the past, pertains to health and safety issues. I am appraising a property now that uses a window unit […]
If you want an FHA loan, you’ll have to do these 5 things
May 21, 2012 By 7 Comments
If you’re getting an FHA loan and want to make sure the appraisal goes off without a hitch make sure you pay attention to these 5 items. If you don’t then it could delay the loan and your closing. The appraiser has to make note of the items listed below, and if he/she cannot then […]
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