When you aim to work as an appraiser for the Federal Housing Administration (FHA), it’s essential to be included on the FHA Appraiser Roster.

The FHA, a division of the U.S. Department of Housing and Urban Development (HUD), requires that all appraisers who want to perform appraisals on FHA-insured loans be listed on this roster.

But how can you get onto the FHA Appraiser Roster, and what does it take to become an FHA-approved appraiser?

What Is the FHA Appraiser Roster?

The FHA Appraiser Roster is a list maintained by HUD of appraisers who meet specific criteria and are eligible to perform appraisals. These loans are widely used by first-time homebuyers. Because the FHA ensures these loans, it’s important to ensure that the properties are accurately valued, and that’s where appraisers come in.

Why Is Being on the FHA Appraiser Roster Important?

Being on the FHA Appraiser Roster means that HUD recognizes you as a qualified appraiser who can perform FHA appraisals. It play a key role in home buying, especially for buyers using FHA loans. If you’re not on the roster, you won’t be eligible to conduct appraisals for FHA loans.

Basic Requirements to Become an FHA Appraiser

To become an FHA-approved appraiser, you need to meet certain requirements. Here’s a list of key steps involved:

1.    Meet the Basic Appraiser Requirements

Here are the basic steps:

  • Complete Appraisal Education: You must complete specific education courses required by your state or the Appraisal Foundation.
  • Pass the Appraiser Exam: You will need to pass the required exam in your state to become a licensed or certified appraiser.
  • Gain Experience: The next step is obtaining practical experience under the supervision of a certified appraiser.
  • Obtain a State License or Certification: Now, you can apply to your state’s appraiser board to get licensed or certified.

2.    Meet FHA-Specific Requirements

Once you have your state license or certification, you can apply for inclusion on the FHA Appraiser Roster. These requirements include:

  • Education: This often includes coursework in FHA appraisal guidelines and regulations. It ensures you understand the unique aspects, including inspection procedures.
  • Experience with FHA Appraisals: FHA has specific experience requirements. It includes a certain number of FHA appraisals completed under the supervision of a certified appraiser.
  • State Certification: FHA does not accept trainee appraisers or those with only a licensed appraiser designation (though they may qualify for the roster once they become fully certified).

3.    Submit Your Application to FHA

Once you meet the general and FHA-specific requirements, you can apply to be included on the FHA Appraiser Roster. The application process typically involves submitting the following documents:

  • Application Form: You must complete and submit the FHA Appraiser Roster application form. It can be found on the HUD website or through your state appraiser board.
  • Proof of Education and Experience: You must provide documentation proving that you have completed the required training.
  • Appraiser License Verification: You must verify your state appraiser license and certification, showing up-to-date credentials.
  • FHA-Specific Training Certificate: You must prove that you have completed FHA-specific education.

Once you’ve submitted your application, HUD will review your qualifications.

How to Look Up FHA Appraisers

This allows lenders, real estate professionals, and other interested parties to find qualified FHA-approved appraisers in their area. To search the FHA roster, you can visit the HUD website and use the FHA Appraiser Roster Lookup tool. This tool lets you search for appraisers by location, name, or license number. The FHA Roster Appraiser Search helps ensure that the appraiser meets all necessary criteria.

Maintaining Your FHA Appraiser Status

Once you are on the roster, you’ll need to maintain your FHA-approved status by:

  • Continuing Education: They must regularly take continuing education courses to stay updated on FHA regulations, market changes, and appraisal practices.
  • Staying Current with State Requirements: You must also keep your state certification up-to-date by meeting your licensing renewal requirements.
  • Following FHA Guidelines: Always ensure that your appraisals meet FHA guidelines to avoid any issues with your status on the roster.

Conclusion

Getting on the FHA Appraiser Roster is essential if you want to conduct appraisals for FHA-insured loans. You can become an FHA-approved appraiser by following the steps to meet the requirements. Once you’re on the roster, you’ll have the opportunity to work with a wide range of clients, including homebuyers, lenders, and real estate professionals.

Scott white