Fha Roof Requirements 2017

If it is determined that the roof has a remaining life of less than two years then it would be the responsibility of the appraiser to call for repair or the construction of a new roof.

Fha roof requirements 2017. Edition as referenced in the minimum property standards. It s the appraiser s job to look over the home make sure it meets fha standards and assign it a fair market value. Section 607 1 l when cost effective. Less than 2.

It also requires that the roof be functional for at least two more years from the date of purchase. To be specific the following has been taken from the hud handbook 4000 1 regarding the fha rules for the roof. Roofing single ply and others and where the slope is. Appraisal requirements for fha mortgage loans are found in hud 40001 and include guidelines for electrical systems plumbing paint and also requirements for the roof.

Fha loan applicants must have a minimum fico score of 580 to qualify for the low down payment advantage which is currently at 3 5. 4 requirements and eligibility standards for a federal housing administration fha insured 5 mortgage. Federal housing administration fha loans have requirements including minimum property standards which help protect lenders. According to the fha website they have clearly stated that the roof should be able to last for a minimum of two years.

A federal housing administration loan or fha loan has very similar requirements to the va loan. Federal housing administration fha loans must meet safety. As with the va loan an fha loan requires that the roof on a home not be leaking. The condition of the roof is important as it s a major source of headaches for a home owner if there is a problem down the line.

More specifically the model codes do not contain any minimum requirements for the durability of such items as doors windows gutters and downspouts painting and wall. Are either built up roofing bur or non conventional. Mortgagees bear primary responsibility for determining eligibility. This of course is a judgment call that the appraiser is required to make.

If your credit score is below 580 the down payment requirement is 10. 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. You can see why it s important that your credit history is in good standing. However the 6 appraiser is the on site representative for the mortgagee and provides preliminary verification 7 that the property acceptability criteria have been met.