Daily Real Estate Vocab #8 - FHA Appraisal

Daily Real Estate Vocab is here! Today we discuss the term: FHA Appraisal An FHA appraisal is An approved estimate of approximate worth of real estate for the purpose and protection of an FHA loan. How is this different from a regular appraisal? Well, with conventional financing, the lender orders an appraisal to determine the market value of the home, and that's pretty much it. With a FHA loan however, the appraisal serves two primary purposes. 1. To establish the value of the property. And 2. To determine whether the home meets the agency’s minimum property requirements. For more vocab terms check out our ultimate guide here: https://realestatelicensewizard.com/real-estate-terms/ #realestate #realestateexam #realestatevocab -=-=-=-=- Don’t forget to like and subscribe for more!