Comments on: More FHA Loans Will Require Two Appraisals in The New Year http://www.fhaloanpros.com/2009/01/more-fha-loans-will-require-two-appraisals-in-the-new-year/ The Unofficial Guide to FHA Loans & Mortgages Sun, 08 Nov 2009 01:59:08 +0000 http://wordpress.org/?v=2.6 By: Bryce http://www.fhaloanpros.com/2009/01/more-fha-loans-will-require-two-appraisals-in-the-new-year/#comment-68799 Bryce Wed, 28 Oct 2009 01:16:52 +0000 http://www.fhaloanpros.com/?p=861#comment-68799 Iam selling a home and the lender is requiring the borrower to purchase 2 appraisals on the property. I was told its because the property is purchased and resold with in six months. Some say this is all new FHA loans. Either way, lenders dont release this unitl the 2 days before contract closing date. Whats new? Iam selling a home and the lender is requiring the borrower to purchase 2 appraisals on the property. I was told its because the property is purchased and resold with in six months. Some say this is all new FHA loans. Either way, lenders dont release this unitl the 2 days before contract closing date. Whats new?

]]> By: Spartans http://www.fhaloanpros.com/2009/01/more-fha-loans-will-require-two-appraisals-in-the-new-year/#comment-61566 Spartans Mon, 03 Aug 2009 21:07:47 +0000 http://www.fhaloanpros.com/?p=861#comment-61566 Yep, Im close to closing on a home right now... My loan processor just told me a 2nd appraisal is now required for closing and I have to wait to get that done Yep, Im close to closing on a home right now… My loan processor just told me a 2nd appraisal is now required for closing and I have to wait to get that done

]]> By: LORI JAHNS http://www.fhaloanpros.com/2009/01/more-fha-loans-will-require-two-appraisals-in-the-new-year/#comment-46273 LORI JAHNS Tue, 31 Mar 2009 22:19:02 +0000 http://www.fhaloanpros.com/?p=861#comment-46273 I need advice on a conflicting matter of ineliageable property i feel the appraiser misunderstood the purpose of the shop and now i need to prove to the underwriters that my property is eliagable my shop is 48.2x 56 and my home is 27x66.5 we have finished bedrooms and kitchen area in the shop we have moved our teenaged boys outhere does this make it ineligable we have aconstruction business also but i own and pkeep my tools onthe 30 acre parcel that surrounnds my home please advise me I need advice on a conflicting matter of ineliageable property i feel the appraiser misunderstood the purpose of the shop and now i need to prove to the underwriters that my property is eliagable my shop is 48.2x 56
and my home is 27×66.5 we have finished bedrooms and kitchen area in the shop we have moved our teenaged boys outhere does this make it ineligable
we have aconstruction business also but i own and pkeep my tools onthe 30 acre parcel that surrounnds my home please advise me

]]> By: Monica http://www.fhaloanpros.com/2009/01/more-fha-loans-will-require-two-appraisals-in-the-new-year/#comment-44181 Monica Wed, 11 Mar 2009 22:55:04 +0000 http://www.fhaloanpros.com/?p=861#comment-44181 What if there are no comparables in the area in which you are trying to purchase a home and land? What are the guidelines for a FHA appraisal in the above circumstance? What if there are no comparables in the area in which you are trying to purchase a home and land? What are the guidelines for a FHA appraisal in the above circumstance?

]]> By: Scott http://www.fhaloanpros.com/2009/01/more-fha-loans-will-require-two-appraisals-in-the-new-year/#comment-42480 Scott Sat, 21 Feb 2009 06:10:37 +0000 http://www.fhaloanpros.com/?p=861#comment-42480 I started my refinance before the 1st of the year and would like to know the same thing. Do I still need a second appraisal? I would have to think that since I started the process before this new amendment came into play, I shouldn't have to have a second mortgage. I started my refinance before the 1st of the year and would like to know the same thing. Do I still need a second appraisal? I would have to think that since I started the process before this new amendment came into play, I shouldn’t have to have a second mortgage.

]]> By: John http://www.fhaloanpros.com/2009/01/more-fha-loans-will-require-two-appraisals-in-the-new-year/#comment-37046 John Tue, 13 Jan 2009 21:46:48 +0000 http://www.fhaloanpros.com/?p=861#comment-37046 What if you had your case number before jan 1 2009 and are to close in Jan for a cash out refinance, Do you still need a second appraisal? Thnaks! What if you had your case number before jan 1 2009 and are to close in Jan for a cash out refinance, Do you still need a second appraisal?

Thnaks!

]]> By: Phoenix Realtor http://www.fhaloanpros.com/2009/01/more-fha-loans-will-require-two-appraisals-in-the-new-year/#comment-36058 Phoenix Realtor Wed, 07 Jan 2009 10:14:53 +0000 http://www.fhaloanpros.com/?p=861#comment-36058 So, it looks like the 2 appraisals only comes into play on a cash-out refi. Are the only changes to purchase money a 3.5% down from 3% and 1.75% MIP from 1.5% and a.55 monthly mi factor up from .50? So, it looks like the 2 appraisals only comes into play on a cash-out refi.

Are the only changes to purchase money a 3.5% down from 3% and 1.75% MIP from 1.5% and a.55 monthly mi factor up from .50?

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