Foreclosure: I'm doing a 203k loan. I got my appraisal back. – Wed May 6, 2015 An appraisal conducted by a licensed and approved FHA appraiser is needed for underwriting a 203k loan.. The type of appraisal required for the financing of rehab property is specified under the 203(K) appraisal requirements and guidelines.. The FHA 203k loan allows you to.
FHA Loan Requirements for Repairs – The Department of Housing and Urban Development, or HUD, oversees the FHA and sets minimum property standards that lenders must adhere to. Lenders use an appraisal inspection process to help them.
FHA 203(K) Loan Appraisal Guidelines and Requirements – FHA 203 (K) Loan Appraisal Guidelines and requirements. fha (federal Housing Administration) 203 (k) loans provide mortgage financing for the purchase or refinance of a owner-occupied residential property along with any necessary funds needed for the renovation or rehabbing. A real estate appraisal performed by a FHA approved appraiser is mandatory.
Are you looking to refinance your. The FHA reduced mortgage insurance premiums in January 2015, making FHA Streamline Refinances more attractive as the mortgage insurance has been drastically cut..