FHA Appraisal Checklists

Avoid delays on generating FHA appraisal reports with the use of a mobile-ready inspection app

What is an FHA Appraisal Checklist?

An FHA appraisal checklist is a tool used by HUD-approved property appraisers to have a current estimated market value of the property which includes livability factors such as access to transport, health care, education and more. It helps to assess the property condition if it meets FHA minimum standards to protect the lender and avoid numerous repair needs for the homebuyers.

This article features 1) the FHA appraisal requirements; 2) digital tool to streamline your FHA inspections; and 3) free FHA inspection checklists you can download, customize, and use.

What are the FHA Appraisal Requirements?

The FHA Appraisals are required to meet property standards set by the U.S. Department of Housing and Urban Development (HUD) to satisfy FHA loan requirements before a buyer can purchase the home. FHA inspections ensure to meet the following minimum standards:

Safety

Appraisers should inspect the level of risks to ensure homebuyers/ occupants are being protected from non-desirable outcomes. Below health and safety information should be checked:

  • Environmental hazards and health risks;
  • Structural integrity of the home;
  • Electrical installation and utilities; and
  • Lead-based paint and other chemical hazards

Security

Assessing the market value of the property secures the lender to preserve the profit as the property serves as collateral for the loan. The following FHA inspection items are checked to validate the security of the property:

Soundness

Appraisers should ensure the property doesn’t have any physical deficiencies or conditions that will affect its structural integrity. Below FHA home inspection list is assessed to check for damages and repair needs.

  • Property Disturbances such as sinkholes or natural depressions;
  • Large or multiple cracks in the floor and walls of the property;
  • Poor ventilation systems;
  • Pest Infestation; and
  • Roof and gutter leaks

Meeting the minimum standards helps homebuyers control additional costs for extensive damages and repair needs. While for lenders, it ensures deterioration doesn’t cut into the value of the home if the borrower defaults on a mortgage and reduces the risk of paying insurance claims.

Streamline your FHA Inspections with a Mobile-ready App

FHA appraisal and inspection reports require significant photo evidence along with detailed notes of the property to be provided to the lenders. Using traditional pen-and-paper systems it is burdensome for appraisers to document all necessary evidence and takes time to generate needed reports. You can avoid these hassles with iAuditor by SafetyCulture, a mobile inspection app that can take unlimited photos of the property, capture detailed notes, and generate real-time comprehensive reports all on your mobile device and without leaving the property.

To save you time, we have created comprehensive FHA checklists you can download, customize, and use immediately on your handheld devices.