FHA appraisal and inspection checklist

FHA appraisers adhere to HUD guidelines for minimum property standards. The following are some of the appraisal requirements or repair items that may be necessary for a property to be approved for an FHA loan. Please note that this list is not exhaustive, and certain requirements, such as security bars on windows, may vary depending on the specific property:

• Must have an undamaged exterior, foundation and roof
• Must have safe and reasonable property access
• Must not contain loose wiring and exposed electrical systems
• Must have all relevant utilities, including gas, electricity, water and sewage functioning properly.
• Must have a working, permanent heating system that can heat the property adequately
• Must have surfaces free of chipping or peeling lead-based paint
• Must have adequate access to attic spaces and natural ventilation in crawl spaces
• Must have access to potable water
• Must be free from wood-destroying insect infestations
• Must not have interior and exterior health and safety hazards, such as no handrails on steep staircases
• Must be a marketable property

Do FHA loans require an appraisal?

You have to get an FHA home appraisal if you’re planning to use an FHA loan to buy a home, and you may have to get an FHA home appraisal if you’re planning on refinancing. In most cases, your lender orders the appraisal after you sign an application and have a fully executed contract with the seller on a purchase loan. For a refinance, an appraisal is ordered after you sign the application. Once you receive the appraisal, you and your lender can review it and decide whether you still want to proceed with the loan.

All FHA home appraisals last for 180 days after issue. For the average buyer, 180 days is plenty of time to complete the closing process. If you need more time before signing the loan closing paperwork, the lender will need to verify the property value has not declined.