FHA Loans Appraisal New requirements

[Ralph DiBugnara]

FHA loans require a lower down payment and credit score than conventional loans, which makes them a great option for first-time homebuyers. FHA appraisers have to make sure the property is functional. This means making sure the home is safe for someone to live in. Some of the new FHA appraisal requirements include:

• safe sewage disposal
• proper drainage, &
• adequate electricity

It is important to know what appraisers are looking for when determining the value of a home in order to make good decisions on your future home purchase.