For the purpose of qualifying for a conventional, jumbo or FHA loan, an appraisal is good for four months (120 days) and must be current through the date of close. There are circumstances when the age of the appraisal may exceed this expiration under certain guidelines.
http://www.quickenloans.com/about/appraisal-process
When it's time to get serious on an FHA insured mortgage and make an offer to buy a home, the property must be appraised by an FHA fee appraiser to establish the market value and make sure the home meets FHA standards. The loan can't be approved or closed upon before this appraisal happens.
http://www.fha.com/fha_article?id=258
The original appraisal may be extended by 30 days to allow for the approval of the borrower and closing the loan provided the borrower signs a valid sales contract or is approved prior to the expiration of the appraisal. See HUD Handbook 4155.2 Chapter 4 FHA Policy on Appraisal Extension.
http://archives.hud.gov/offices/hsg/sfh/ref/sfhp1-06.cfm
FHA loan rules do not permit the re-use of an appraisal once the loan has closed. According to FHA.gov, “For example, an appraisal used for the purchase of a property cannot be used again for a subsequent refinance, even if the appraisal is within the 120 day validity period.
http://www.fhanewsblog.com/2012/07/fha-appraisal-expiration-dates-questions-and-answers/
The loan can't be approved or closed upon before this appraisal happens. When the property gets appraised and approved for sale, the FHA borrower, seller and lender can discuss a closing date. In most cases when the closing date is set and the agreements have been made, the end of the purchase process is in sight.
http://www.fha.com/fha_article?id=258
When it's time to get serious on an FHA insured mortgage and make an offer to buy a home, the property must be appraised by an FHA fee appraiser to establish the market value and make sure the home meets FHA standards.
http://www.fha.com/fha_article?id=258
FHA appraisals do expire. New Policy: Mortgagee Letter 2009-30, dated September 01, 2009, states that effective for all FHA case numbers assigned on or after January 1, 2010, the validity period for all appraisals on existing and proposed and under construction properties will be 120 days.
http://www.nexusanalytix.com/index.php?option=com_content&view=article&id=155:do-fha-appraisals-expire&catid=50:appraisal-questions&Itemid=25
For the purpose of qualifying for a conventional, jumbo or FHA loan, an appraisal is good for four months (120 days) and must be current through the date of close.
http://www.quickenloans.com/about/appraisal-process
When does an appraisal expire? For the purpose of qualifying for a conventional, jumbo or FHA loan, an appraisal is good for four months (120 days) and must be current through the date of close. There are circumstances when the age of the appraisal may exceed this expiration under certain guidelines.
http://www.quickenloans.com/about/appraisal-process
Jul 4, 2012 By FHA.com Staff Writer 20 Comments. When buying a home with an FHA guaranteed mortgage loan, one of the most important steps in the process is the appraisal. An FHA appraiser reviews the home to make sure it lives up to minimum property requirements and assigns a fair market value to the property.
http://www.fhanewsblog.com/2012/07/fha-appraisal-expiration-dates-questions-and-answers/
fha loan appraisal expiration
FHA loan appraisal expired after four months or 120 days. The expiration of an FHA loan appraisal is after four months or 120 days.