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FHA Appraisals

Because of HUD raising the loan limits for conforming loans, I have been innundated with appraisal requests for FHA loans. I am a FHA appraiser but have not done that many appraisals for FHA loans. On Friday, I am attending a class in Las Vegas (about four hours from home) to learn more about appraising for FHA loans. I am so excited because there will actually be five representatives from HUD to answer questions and train appraisers. I also can't wait to get back and report more on what I learned as I am sure that many appraisers are getting requests and not knowing exactly how to do the appraisals correctly. I do know that you do not need the VC form any longer and all that is needed to appraise an SFR is the Fannie Mae 1004. More information to come.

Posted by Dawn Walker on 04/15/2008 08:47 PM

Comments (3)

appraisal, appraiser, santa clarita, newhall, valencia, measuring, homes, real estate, property, value, standards, ethics, process

Post is included in group: Santa Clarita Resources

3 Comments on FHA Appraisals

APR

2008

Keep those appraisals coming!

FAH has loosened up some of its guidelines. It used to be that you had to flag very dirty carpet a minor crack in a window...

The main items are Functional electric, plumbing, furnace, heat source in every room, roof two years life, no wood to dirt on the founcation. Good luck

APR

2008

I have been doing FHA appraisals for quite a while now and somewhat disappointed that there is no longer an exam required. I know my level of attention can sometimes stray in continuing ed classes where there is no test at the end. I hope the appraisers are paying attention to the guidelines because some of them can get ya if you are not on your game. It is not a bad idea when doing fieldwork to have the VC sheets along with you just to make sure there is not something you are missing. Good luck.

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