If the roof has less than two years remaining life the appraiser must call for reroofing or repair.
Fha roof layers.
This of course is a judgment call that the appraiser is required to make.
Fha loan appraisal questions.
We get many questions about the fha home loan appraisal process including specific questions about certain conditions that may or may not affect the sale of a given home.
Appraisal requirements for fha mortgage loans are found in hud 40001 and include guidelines for electrical systems plumbing paint and also requirements for the roof.
One frequently asked question about the fha loan process is related to fha appraisals and the minimum requirements for the roof of the home.
Under the roof section we find the following.
Among the most frequently asked questions that figure on most people s minds when it comes to borrowing an fha loan pertain to fha appraisals and the minimum qualifying criteria for the roof of the borrower s home.
Fha loan reader questions.
4905 1 rev 1 2 12 d.
A person determined to be qualified by the lender should make a certification as to the condition of the roof and the.
Can i get an fha loan on a house if it has 2 layers of shingles and the 2nd layer is less than 20.
To be specific the following has been taken from the hud handbook 4000 1 regarding the fha rules for the roof.
A federal housing administration loan or fha loan has very similar requirements to the va loan.
Water heaters the water heater must meet local building.
Fha will accept a maximum of three layers of existing roofing.
A reader asks for an fha loan are there roof requirements on a detached garage or do the requirements solely apply to the roof over the home fha loan rules for property analysis can be found in hud 4150 2.
One of the fha rules for the roof requires the appraiser to report if it has less than 2 years remaining life and require it to be replaced.
The roof should have a remaining physical life of two years.
For this purpose the appraiser is assigned with the responsibility of evaluating the home to ensure that it meets the standards as laid down by the fha and assigns it with the.
If more than two layers exist and repair is necessary all of the old roofing must be removed as part of the reroofing.
If the inspection reveals the need for roof repairs and the roof already has three or more layers of roofing the fha requires a new roof.
It s the appraiser s job to look over the home make sure it meets fha standards and assign it a fair market value.
If it has that many layers certification is likely out of reach unless the whole roof is replaced.
As with the va loan an fha loan requires that the roof on a home not be leaking.
Fha will accept a maximum of 3 layers of existing roofing.
