For a federal housing administration fha loan to be approved the home must pass an fha inspection and appraisal.
Fha roof inspection form.
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.
Page 489 adds the following.
The appraiser must report if the roof has less than two years of remaining life and make the appraisal subject to inspection by a professional roofer.
To be specific the following has been taken from the hud handbook 4000 1 regarding the fha rules for the roof.
The borrower must take it upon themselves to have a home inspector look over the roof and other critical areas of the property there may be issues not immediately noticeable that an inspection would catch that do not appear on the fha appraisal report.
Exterior surfaces are all painted surfaces free of.
6 1 condition of foundation 6 2 condition of stairs rails and porches 6 3 condition of roof gutters 6 4 condition of exterior surfaces 6 5 condition of chimney 6 6 lead paint.
A home inspection paid for by the borrower would include a closer look at the roof than what is required here by hud 4000 1.
Hud s primary concern is the health and safety of the home buyer who will actually live in the house.
Here are some of the key inspection areas required by hud.
Fha loans are government backed mortgage designed to help people with lower incomes or credit scores buy homes.
It also requires that the roof be functional for at least two more years from the date of purchase.
This of course is a judgment call that the appraiser is required to make.
When applying for an fha loan your lender uses the results of the appraisal to determine if the property is eligible for financing.
A federal housing administration loan or fha loan has very similar requirements to the va loan.
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.
We cover the requirements mandated by the federal housing administration fha for appraising properties.
Water heaters the water heater must meet local building.
As with the va loan an fha loan requires that the roof on a home not be leaking.
The primary areas of inspection are the roof the foundation lot grade ventilation mechanical systems heating electricity and crawl spaces when present.
Previous editions are obsolete page 5 of 8 form hud 52580 4 2015 ref handbook 7420 8 item 6.
