An FHA appraisal resource guide and checklist for real estate agents
If you’re a real estate agent I hope this post will help you navigate through FHA requirements on your listings. I’ve written extensively about
various items that set FHA appraisals apart from conventional loans. If you have an idea that a home you are listing may utilize FHA financing when it sells it is a good idea to make sure that the home passes all the requirements up front so that you will not have to worry about it on the back end of the loan and therefore avoid delays in the loan closing.
A collection of FHA topics
Below you will find a collection of my most popular FHA related blog posts and a short description of what’s included.
What is the FHA rule for security bars?
Security bars must meet certain requirements for them to be acceptable in an FHA appraisal. Find out the guidelines here.
Are you worried that the home you’re buying with screw in fuses may not meet FHA/HUD guidelines?
Find out what needs to happen for screw in fuses to be acceptable in an FHA appraisal.
What you should know about FHA guidelines for attics if you want to sell your home
Did you know that homes must have attic access to be acceptable in an FHA appraisal? Find out what other items must be present in the attic to pass HUD requirements.
What is an acceptable form of heating and cooling for FHA appraisals?
There are numerous types of heating and cooling that a house can have, find out if yours is included.
Find out your chances of getting an FHA loan if your home is messy, the answer may surprise you.
What is the FHA rule for crawlspaces?
Find out which requirements were removed and which ones are still in place.
How NOT to dispose of peeling paint for an FHA appraisal
Find out the one way you cannot get rid of peeling paint in an FHA appraisal.
FHA rules for termite inspections
The rules for wood infestation reports can be confusing in FHA appraisals, however if you pay close attention to the requirements it makes sense.
A helpful checklist
In addition to the above blog posts I’m including a helpful checklist for real estate agents to make sure that your listings meet FHA requirements. There are numerous items that have to meet HUD guidelines and they are not all included in this list, however the ones that you have control over are. As I mentioned before if you think the home could be sold with FHA financing then it is a good idea to clear these things up in the beginning before it goes under contract. It’s better to be proactive in matters like these.
Question
Is there something not on the list that you have a question about? If so, let me know and I get an answer for you. As always, thanks for taking the time to read my blog and you can leave me a comment below if you’d like.
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Nice job, Tom. I downloaded your list too, and I’ll have to see how it compares to mine. FHA now requires permanent mortgage insurance, but it’s still one of the best options for buyers who don’t have much money to bring to the table. This is exactly why FHA loans have been increasing in Sacramento despite the change to mortgage insurance. These are interesting times. Thanks Tom.
Thanks Ryan. I heard this week that conventional loans now have programs where the buyer only has to put down 3%, similar to FHA, however I believe that the demand with FHA will continue.
True. That’s why FHA might not get to be as high as it used to be in 2009 or so when there really wasn’t a conventional product. It’s interesting to see how lending adapts to market changing.
I guess time will tell as to the effect it will have on the market.
That is a great bunch of resources Tom. Thank you very much. There are even some good reminders on FHA rules for appraisers to use.
Thanks Gary, I hope providing a lot of my FHA posts in one location makes them easier to find.