: Appraisals: FHA vs. Conventional

Appraisals: FHA vs. Conventional

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

Comment balloon 3 commentsTed Canto • March 10 2010 12:04AM

Comments

Ted,

The info is true and that makes it easy to get the buyers to accept the FHA loan.

Posted by Tim Lorenz, 949 874-2247 (TIM LORENZ - Elite Home Sales Team) almost 8 years ago

Ted..

Things sure are changing! It's important to keep up with changes and make sure you're getting correct information.

cosmic cow

Posted by Carra Riley (Brokers Guild Cherry Creek Ltd) almost 8 years ago

Ted, what about peeling lead paint on houses build before 1978?  Would this be handled the same way for an FHA and Conventional Appraisal?   ---Gloria

Posted by Gloria Todor, & Doug Durren (484) 431-3686 (Century 21 Absolute Realty ) almost 8 years ago

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