What Will My HUD Appraiser Look For If The Property Is Going Through An FHA-Insured Loan?

Are you considering an FHA loan? Are you curious about what an FHA appraiser will be looking for when they appraise the property? Primarily, an FHA appraiser will check out the foundation, lot grade, mechanical systems, heating, ventilation, electricity and (if the home has one) the crawl space. This won’t be a normal home inspection. This is an appraisal with a built-in inspection for health and safety concerns only. Many people get confused about this. All properties have to be appraised by a HUD-approved home appraiser if the property is being purchased with an FHA-insured mortgage.

HUD requires the inspector to check out all issues that could be a health or safety concern. They need to make sure that the property is habitable and free of hazards for the occupant. For example, the lot needs to be sloped so that water will drain away from the home instead of towards it. That’s a main factor. The next main issue is about bedrooms. All bedrooms have to have egress to the outside. This can be a door or a window, but without this egress, the bedroom is considered dangerous in the event of a fire. The next issue is a big issue that is non-debateable and easy to fix. If the home is built before 1978, the paint in it could be lead-based paint. The appraiser is required to check for peeling and chipping paint.

Next, all stairways are supposed to have a handrail. This is for safety and is one of the most common thing that needs to be repaired before the loan can be approved. It’s a safety concern if there isn’t a handrail on all steps and stairways.

The heating system doesn’t have to be perfect, but it does have to be good enough to create a healthful and comfortable living condition. Similarly, a roof doesn’t have to be perfect, but it has to be good enough to do its job. It has to keep moisture from getting into the home through the roof and it should “provide reasonable future utility, durability and economy of maintenance.” They will also check out the foundation. It should be in good repair and it should be able to withstand normal loads that could be imposed on it.

As a general rule, the home has to be free of all known hazards and adverse conditions in order to pass the FHA appraisal process. From there, the appraiser will look at comparable properties that have sold in the area and use these “comps” to determine the value of the home. You can also get a decent idea of its value by checking out the property tax records.

While the appraiser is at the property they will be required to do at a minimum, the following:

  • Actually visually inspect the property, including inside the home.
  • Take photos of the property from all sides and take photos of any value-adding improvements like a patio, water feature, or garden.
  • Take photos of all of the comparable properties they will use in the appraisal.
  • Provide a copy of a map that shows the location of the property and the location of the comps.
  • If it’s a new construction to happen, they also have to take photos of the grade of the lot.

Are You Thinking of Buying a Home in Dubois County?

Use our site to search homes for sale in Jasper, Dubois, Spencer, Martin and Davis counties and all of our surrounding areas. Unlike the “big name” sites out there, at Sell 4 Free Welsh Realty our site is directly connected to our local MLS and is updated with new homes every hour. By signing up for New Listing alerts you can stay on top of the newest homes for sale and get price change alerts so you can stay ahead of other buyers and beat them to the hottest deals!

Start your Home Search now

Popular Jasper Indiana Home Searches:

Newest Homes for Sale in Dubois County

View the newest homes listed in Dubois County in the last 10 days:

Check out this well taken care of and redone home in Idlewild Lake overlooking the lake with its very own boat dock. The home has a nice enclosed front porch overlooking the lake. The home has been repainted and has some new added features. Newly installed split units for HVAC. The home could be purchased furnished as well. Fenced in back yard with a nice storage shed and covered back patio. This will not last long. $75,000 Active

1183 N Idlewild Lake Road Jasper, Indiana

1 Beds 1 Baths 440 SqFt

Listing courtesy of Larry Carpenter III from Carpenter Realty LLC.

Step into this STUNNER of a home and be greeted with 9+ foot ceilings and an open concept floor plan! With over 2,500 square feet of living space, this home features four bedrooms, two full bathrooms and one partial bathroom. The office space has endless possibilities, including being a fifth bedroom, as it hosts closet space and custom-made sliding barn doors for privacy! In the kitchen, you will find all stainless-steel appliances along with a large kitchen island and a walk-in pantry. Upstairs you will be greeted by a bonus loft space and four spacious bedrooms that ALL have walk-in closets! The master bedroom features an in-suite bathroom with a walk-in shower, twin sink vanity and a large walk-in closet. Back downstairs, you will find a spacious 2 car garage off the kitchen that provides extra storage space. Off the kitchen, the covered patio along with custom stonework provides for a relaxing night around the fire or for simple enjoyment! Added bonuses with the home are a tankless water heater, garden shed and potential to keep the swing set if requested! $339,700 Active

215 W Stellar Way Huntingburg, Indiana

4 Beds 3 Baths 2,566 SqFt 0.190 Acres

Listing courtesy of Marissa Goodness from Carpenter Realty LLC.

Wow! Say hello to this beautiful 4 bedroom 2-1/2 bath house sporting 2,650sf of finished living space on Jasper's west side. This home is situated on a quiet street in a beautiful neighborhood of well-kept houses near Holy Trinity School and minutes from Jasper High School. You'll be greeted with new waterproof laminate flooring throughout the main level creating a smooth continuous flow from one room to the next. For the cooks in the family, say hello to an open kitchen and dining area with all new cabinets and high-end granite countertop for ample storage and food preparation space. As you move throughout the main level, prepare to find updated ceiling fans in the living room and each bedroom along with newly updated bathrooms including the first-floor laundry. As you move down the stairs, you'll find a fully finished basement with space for entertaining. There's plenty of room for a home theater, pool table, workout area or possibly all three! Here, you will also find the fourth bedroom, craft space, or home office, and the second full bathroom. The house is situated on nearly one-third of an acre with a large unobstructed back yard with lots of room for a garden or firing up the grill for outdoor entertaining. The additional three season porch is a wonderful place to relax and watch some amazing sunsets. With the recently updated HVAC, water heater, and roof, this house is truly move-in ready waiting for you to call it your new home. Come see it today. $349,700 Active

1517 Gregory Lane Jasper, Indiana

4 Beds 3 Baths 2,648 SqFt 0.330 Acres

Listing courtesy of Joseph Wootan from List With Freedom.com LLC.

Privacy Settings