Minimum Roof Life Fha

If the roof has less than two years remaining life then the appraiser must report this condition in the appraisal report.

Minimum roof life fha.

The appraiser must clearly state whether the subject is to be repaired or re roofed. According to the 2020 fha appraisal guidelines all properties being purchased with an fha insured mortgage loan must be appraised by a licensed hud approved home appraiser. The roof should have a remaining physical life of at least two years. Federal housing administration fha loans have requirements including minimum property standards which help protect lenders.

Va loans help 5 months ago. To be specific the following has been taken from the hud handbook 4000 1 regarding the fha rules for the roof. The roof should have a remaining physical life of at least two years. Visually inspect the subject property both inside and out.

At a minimum the appraiser must complete the following steps. 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. The appraiser must exercise sound judgment when evaluating roof condition. Home inspectors estimate is less than 4 years of life left on the current roof.

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. Federal housing administration fha loans must meet safety. But that s not all the fha also requires a minimum amount of durability. 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.

When there are no repairs needed they are generally asked to estimate the remaining lifespan of the roof. If the roof has less than two years remaining life then the appraiser must call for re roofing or repair. All i cound find from va is prevent entrance of moisture and provide reasonable future utility durability and economy of maintenance. This of course is a judgment call that the appraiser is required to make.

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. This is pretty vague on life of the roof.