Minimum Roof Life Fha

At a minimum the appraiser must complete the following steps.

Minimum roof life fha.

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. If the roof has less than two years remaining life then the appraiser must report this condition in the appraisal report. The roof should have a remaining physical life of at least two years.

These experts look at the condition of the roof including any movement the soundness of the flashing and even the gutters and downspouts. 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. The appraiser must exercise sound judgment when evaluating roof condition. According to the fha website they have clearly stated that the roof should be able to last for a minimum of two years.

But that s not all the fha also requires a minimum amount of durability. All i cound find from va is prevent entrance of moisture and provide reasonable future utility durability and economy of maintenance. For a va loan the lender wants to see that it should last a minimum of two years. This of course is a judgment call that the appraiser is required to make.

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. 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 appraiser must clearly state whether the subject is to be repaired or re roofed.

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 report if the roof has less than two years of remaining life and make the appraisal subject to inspection by a professional roofer. Home inspectors estimate is less than 4 years of life left on the current roof. When there are no repairs needed they are generally asked to estimate the remaining lifespan of the 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. If the roof has less than two years remaining life then the appraiser must call for re roofing or repair.