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FHA Appraisals

In 1965 the Department of Housing and Urban Development (HUD) was formed. Within HUD operates the Federal Housing Administration (FHA), which has the primary responsibility for administering the government home loan insurance program. This program allows a first time home buyer, who might otherwise not qualify for a home loan, to obtain one because the risk is removed from the lender by FHA, who insures the loan for the lender.

The Department of Housing and Urban Development (HUD) requires appraisals for all FHA insured loans, except Streamline refinances. Though the qualifications of an appraiser will vary, HUD requires a minimum standard to be met by all FHA approved appraisers to include additional education and training, state licensing or certification, and approval by the lender to conduct FHA appraisals. Our appraisers at Beyond Appraisals, Inc. have done a great amount of course work and they are certified and FHA approved!

FHA emphasizes that an appraisal is not a home inspection and it does not guarantee that a home is without flaws. However, FHA does take steps to try to see that the home is in a safe, sound and sanitary condition. For that reason, the FHA appraiser is expected to require repair or replacement of anything that may affect the safe, sound and sanitary habitation of the house. If repairs are required, the buyer will receive a list from the lender (see VC sheets) and the seller (in most cases) may be responsible for seeing that the repairs are taken care of according to set local and FHA guidelines.