FHA Approved Appraisal


In order to qualify for a government-backed mortgage from the Federal Housing Authority, you must prove that your property meets certain criteria with an FHA approved appraisal. An FHA mortgage makes housing more affordable by offering loans to those with lower credit scores at reduced interest rates.

The eligibility requirements for properties are set by the HUD (Department for Housing and Urban Development) and serve to ensure that the loan is a secure investment for the lender. Additionally, the condition of the home must meet certain standards in order to qualify for this type of loan, hence the need for an FHA approved appraisal.

FHA Appraisal Requirements

The purpose of the appraisal is twofold: to establish the market value of the home and to determine whether or not a property meets the HUD’s minimum property requirements in order to qualify for a government-backed loan. An appraiser must inspect the interior, exterior and surrounding area to assess the physical condition of the property.

The appraiser must also ensure that a home is in liveable condition and must identify any environmental hazards or defects. Everything from the property’s structural soundness and functionality, to the site it is built on, are taken into account when performing an FHA appraisal.

HUD Requirements

The minimum property requirements set out by the HUD are used by the appraiser to establish the condition of the property for mortgage purposes.

The main elements being checked in the appraisal are: safe access to the property; functioning heating, lighting, sewage, and ventilation systems; adequate water supply and a safe distance for drainage; no chemical hazards such as soil contaminants or lead-based paint; and no health and safety hazards such as broken windows or structural issues.

FHA Approved Appraisal Summary

An FHA mortgage makes housing for affordable for those with low credit scores by offering loans at lower interest rates. An FHA approved appraisal is necessary to secure a government-backed loan, and is used to establish the property’s market value and assess whether it meets the HUD criteria.

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