In order for a loan to be financed, certain USDA, VA or FHA appraisal requirements must be met. The following will need to be repaired in order to avoid a re-inspection of the property:
Paint
ANY chipping or peeling paint will need to be scraped and painted, no matter how minor it may be. Remember to remove the old paint chips that have fallen onto the ground and dispose of them properly.
Siding
ANY missing or cracked Siding, Fascia board, or Soffit Vents will need to be repaired or replaced.
Septic
If the property has a septic/leach field, please make sure they are easily located by placing a stake in the ground next to the servicing spout. If the appraiser cannot locate the septic, they will need to come back to the property again or they may require a third party to do an inspection.
Well
Same as the septic, please make sure the well is easily located by placing a stake next to the cap, to avoid a second trip for the appraiser or a third party inspection.
Roof
Homes that have a water stain on the interior ceiling will most likely require a roof inspection to see if the roof has been repaired or what the cost of the repair will be.
Crawlspace
Please make sure there is an unsealed entry point for a crawlspace; the appraiser will need to take photos and describe the area in his or her report.
Attic
The appraiser will need to perform a “Head and Shoulders” inspection of the attic. Please make sure there is access and a ladder available if need be for the inspection.
Railings
The appraiser is going to require that handrails be installed on stairwells, even in the basement and entry points to the house. For decks and porches more than a 1 foot drop off or anything with 3 or more steps, railings will need to be installed. Some appraisers will also state that the stairs need vertical safety rails installed.
Hot Water Tanks
The appraiser will require T&P discharge valves on hot water tanks to be no more than 6 inches above the floor or receptor in order to keep hot water discharge from splashing and causing injury.
Smoke & C02 Detectors
There must be C02 detectors on every level of the home, along with smoke and C02 detectors in every bedroom of the home.
Outlets, Switches, Junction Boxes & Wires
The appraiser will be looking for uncovered outlets, switches, junction boxes, and electrical boxes. Please ensure all are covered, and ensure there are no loose hanging wires in the home.
Need Help With Appraisal Requirements in Upstate NY? Contact Maple Tree Funding
We’ll be happy to provide additional information about how to streamline the mandatory government mortgage home appraisal process and can even help you determine which government funded mortgage option is right for you. For more information about government mortgages or the mandatory home appraisal process, give us a call at 518-782-1202 or contact Maple Tree Funding online today.
Looking for a PDF version of our USDA, VA, & FHA appraisal requirements? Download the PDF here!
Related Resources:
Faster & Easier Home Appraisals for Government-Funded Mortgages
