Need some help on an FHA appraisal

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Rainmaker
630,251

Ajay Pandya

e-Merge Real Estate Unlimited - Columbus, OH

Realtor Ajay Pandya

I am sure you found it by now.

Apr 14, 2018 10:45 PM

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Rainmaker
3,071,489

Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Haven Express @ Keller Williams Arizona Realty

Gabe nailed this one!

Sep 08, 2017 06:01 AM

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Rainmaker
4,800,132

Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

Steven, there should be an FHA addendum to the purchase and sales contract when dealing with an FHA loan that specifies if any and how much of the closing costs are to be paid by the seller.

As to the FHA appraisal. There are some extra issues an appraiser must consider, but it should not be an issue for the seller in most situations.

Depending on who's doing the loan, I wouldn't think you would need more than 45 days max to get approval for the loan.

Apr 11, 2015 08:17 AM

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Rainmaker
2,538,633

Joe Petrowsky

Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT

Your Mortgage Consultant for Life

What is the issue with the FHA appraisal?

Apr 11, 2015 06:19 AM

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Rainer
1,413

Steven Miata

South Miami, FL

Hello, this is the person that asked this question...I guess I left out much of the important items of this so I apologize.

In the state of Florida, is it mandatory that the seller pay any of the closing costs or fees on an FHA mortgage?

Apr 11, 2015 05:56 AM

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Rainmaker
443,220

Cindy Davis

SD Home Source Realty - San Diego, CA

Some of what you've hard is myth, some isolated cases. I would allow 35-40 days for an FHA loan. The restrictions are minimal, and the appraisals are very comparable to those with conventional loans. If you are working with a seasoned lender, the FHA loan should not be an obstacle.

Apr 11, 2015 05:40 AM

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Steven, there should be an FHA addendum to the purchase and sales contract when dealing with an FHA loan that specifies if any and how much of the closing costs are to be paid by the seller.

As to the FHA appraisal. There are some extra issues an appraiser must consider, but it should not be an issue for the seller in most situations.

Depending on who's doing the loan, I wouldn't think you would need more than 45 days max to get approval for the loan.
Hello, this is the person that asked this question...I guess I left out much of the important items of this so I apologize.

In the state of Florida, is it mandatory that the seller pay any of the closing costs or fees on an FHA mortgage?
Some of what you've hard is myth, some isolated cases. I would allow 35-40 days for an FHA loan. The restrictions are minimal, and the appraisals are very comparable to those with conventional loans. If you are working with a seasoned lender, the FHA loan should not be an obstacle.