Fha Approved Roofing

As part of the u s.

Fha approved roofing.

It also requires that the roof be functional for at least two more years from the date of purchase. 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. To be specific the following has been taken from the hud handbook 4000 1 regarding the fha rules 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.

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. Call to get a free cost estimate today. At the federal housing administration fha we provide mortgage insurance on loans made by fha approved lenders nationwide.

If the roof has less than two years remaining life then the appraiser must call for re roofing or repair. More than 40 000 floridians can t be wrong. 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. Water heaters the water heater must meet local building.

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. 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. The appraiser must clearly state whether the subject is to be repaired or re roofed. This of course is a judgment call that the appraiser is required to make.

But that s not all the fha also requires a minimum amount of durability. Department of housing and urban development hud we insure mortgages on single family homes multifamily properties residential care facilities and hospitals. The roof should have a remaining physical life of at least two years. As with the va loan an fha loan requires that the roof on a home not be leaking.