what is an fha appraisal

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The FHA appraisal is an assessment report done by a qualified fha appraiser. Not only the opinion about the market value of the subject property is made, but the appraiser also needs to do a thorough inspection regarding the health and safety issues of it.

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An appraisal is for the lender; a home inspection is for the buyer. FHA requires an appraisal, but not a full inspection. However, the FHA appraisal does includes a cursory inspection. This is a cause of confusion for many home-buyers. fha homes are not luxurious, but they must meet the Housing Quality Standards (HQS).

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.

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My problem is trying to find where it states appraiser has to actually measure. Checked Fannie Selling Guide, FHA 4000.1 handbook, USPAP, and 1004 certifications, and could not find any reference to appraiser (or someone so appointed) actually measuring the subject. Just properly reporting the GLA, etc. What am I missing?

An appraiser certified to look at Federal Housing Administration-related property knows that home valuation is only one component of her job. fha appraisers also have an eye toward ensuring the.

An appraisal conducted by a licensed and approved FHA appraiser is needed for underwriting a 203k loan. All residential home loan programs including va, FHA and conventional (Fannie Mae, Freddie Mac) require the performance of comprehensive appraisal report.

An FHA home appraisal is both a process and a product. During the process, a licensed home appraiser evaluates the property to determine its current market value. The appraiser will then produce a written report that details his findings, including the estimated value of the home. Appraisals are typically required for mortgage approval.

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An appraiser certified to look at Federal Housing Administration-related property knows that home valuation is only one component of her job. FHA appraisers also have an eye toward ensuring the new.