Appraisals: FHA vs. Conventional
Once upon a time, there was a difference between an FHA appraisal compared to a Conventional appraisal. For many years, real estate professionals, investors and motivated buyers avoided an FHA loan out of the fear that the appraisal, known for it's vigorous inspection of the condition of the property, would complicate the transaction and therefore opening preference to a contract offer involving a conventional loan program versus accepting an offer with an FHA loan.
To say it bluntly: That was then, this is NOW! In today's lending industry, there is no difference between a conventional appraisal when compared to an FHA appraisal. It is an industry wide fallacy that has corrupted the minds of real estate professionals and consumers alike.
The reasons are simple! Click here for -> Differences on FHA and Conventional Appraisals