Fha Approved Roofing

It also requires that the roof be functional for at least two more years from the date of purchase.

Fha approved roofing.

The roof should have a remaining physical life of at least two years. More than 40 000 floridians can t be wrong. As part of the u s. Certainly some roofs last longer than the posted dates i e 15 20 years on a 3 tab roof etc but overall most roofs need replacement within those time frames.

A federal housing administration loan or fha loan has very similar requirements to the va loan. However underwriters for loans may consider when the roof was last replaced and do the simple math based on the life expectancy of the type of roofing material. If the inspection reveals the need for roof repairs and the roof already has three or more layers of roofing the fha requires a new roof. Department of housing and urban development hud we insure mortgages on single family homes multifamily properties residential care facilities and hospitals.

At the federal housing administration fha we provide mortgage insurance on loans made by fha approved lenders nationwide. The appraiser must clearly state whether the subject is to be repaired or re roofed. If the roof has less than two years remaining life then the appraiser must call for re roofing or repair. To be specific the following has been taken from the hud handbook 4000 1 regarding the fha rules for the roof.

This of course is a judgment call that the appraiser is required to make. The condition of the roof is important as it s a major source of headaches for a home owner if there is a problem down the line. As with the va loan an fha loan requires that the roof on a home not be leaking. For this purpose the appraiser is assigned with the responsibility of evaluating the home to ensure that it meets the standards as laid down by the fha and assigns it with the.

Join our happy customers by trusting fhia remodeling for roofing replacement windows exterior coatings and more. Call to get a free cost estimate today. Appraisal requirements for fha mortgage loans are found in hud 40001 and include guidelines for electrical systems plumbing paint and also requirements for the roof. Among the most frequently asked questions that figure on most people s minds when it comes to borrowing an fha loan pertain to fha appraisals and the minimum qualifying criteria for the roof of the borrower s home.