Understanding FHA Appraisals: What You Need to Know

When purchasing or refinancing a home with an FHA loan, an FHA appraisal is a crucial step in the process. Unlike conventional appraisals, FHA appraisals come with specific requirements that ensure the property meets the Federal Housing Administration’s (FHA) safety, security, and livability standards. As a Certified Residential Real Estate Appraiser in the Tampa Bay area, I have the experience and qualifications to guide you through the FHA appraisal process and ensure your transaction moves forward smoothly.

What Is an FHA Appraisal?

An FHA appraisal serves two primary purposes:

1. Determining Fair Market Value – The appraiser provides an unbiased opinion of market value for a lender to then make a lending decision.

2. Ensuring the Property Meets FHA Guidelines – The home must meet specific

safety, structural integrity, and habitability standards set by the FHA.

Unlike conventional appraisals, FHA appraisals involve additional property inspections

to ensure compliance with HUD (Department of Housing and Urban Development)

requirements.

FHA Appraisal Requirements

FHA has strict guidelines that a home must meet to be eligible for financing. Some key

requirements include:

1. Safety Standards

 Handrails must be installed where needed (e.g., staircases)

 No exposed electrical wiring or broken outlets

 No chipping or peeling lead-based paint (especially in homes built before 1978)

 Functional smoke detectors and carbon monoxide detectors (where applicable)

2. Structural Integrity

 The roof must have at least two years of remaining life expectancy

 No major foundation cracks or structural issues

 No significant water damage or mold present

3. Habitability and Health Standards

 Proper functioning HVAC, plumbing, and electrical systems

 Working appliances, if they are on site

 No active pest infestations

If the home does not meet these requirements, the lender may require repairs before

the loan can be approved.

The Role of a Certified FHA Appraiser

As a Certified Residential Real Estate Appraiser, I specialize in FHA appraisals in the Tampa Bay area. My job is to assess the property fairly while ensuring it meets HUD’s guidelines. I work with homebuyers, sellers, and lenders to provide accurate, reliable, and timely appraisal reports.

Why Work with a Local FHA Appraisal Expert?

With years of experience in the Tampa Bay real estate market, I understand the unique factors that impact home values in this area. Whether you& are a first-time homebuyer using an FHA loan or a homeowner looking to refinance, I am here to help make the appraisal process seamless and stress-free. If you need an FHA appraisal or have questions about the process, contact me today for professional guidance and expert insights!

MJS Appraisals – Providing Trusted Property Valuation Services in Tampa Bay & Surrounding Areas.

Michael Scarpa

State Certified Residential Real Estate Appraiser

MScarpa@mjsrealestateservices.com

813.609.2321