Would your property qualify for an FHA insured loan?

In addition to establishing value of the property, an FHA appraisal determines whether the home meets the agency’s minimum property requirements. We look for things that adversely affect the physical condition of the property, endanger the health and safety of occupants, and affect the livability and marketability of the home. During the appraisal we visually inspect the interior and exterior of the home, we access crawl space and attic space, test all appliances, test furnace and AC, flush toilets, check for running water, and smoke detectors and carbon monoxide detectors are required. Septic system must be functional. Property must be free of soil containments. Site must adequately drain water away from perimeter walls. Must have an acceptable and sufficient water supply. Must have safe and sanitary sewage disposal. No evidence of termites. Foundations must be in good condition. Roof must be in good condition and prevent moisture from entering the home. Mechanical systems must be safe, protected from the elements, functional, and durable. Heating sources must be safe, functional and meet any local code requirements. Electricity must be available. No presence of lead based paint. Additional health and safety hazards, including but not limited to, broken windows, blocked doors, or stairs without a handrail. All bedrooms should have egress to the exterior. Many homes built before 1978 still contain lead-based paint, which is a potential health hazard. In these homes, the appraiser will check for damaged paint (peeling, chipping, etc.). Such conditions must be corrected. If your unsure if your home meets the minimum property standards, safety, security, and soundness give us a call to schedule a home visit.