Construction and New Homes:
Introduction

Information by State  Print version

Chapter 1
Appraisal and Property Requirements
Page 1-08a

It is the appraiser's responsibility to determine the exact category of "CONSTRUCTION" they are appraising. This is reported on page 1 of the URAR in Description of Improvements.

	Determines the high or low-ratio status of the mortgage to be insured by FHA.
	Determines the specific Conditional Commitment Requirements.
	Provides the Direct Endorsement Underwriter the proper information needed to determine exactly how to process the case.

The condition of the site on the date the appraiser makes their on-site appraisal inspection (i.e. date of valuation) determines the project's construction status.

Construction Menu

	Introduction
	Construction definitions
	General requirements
	Minimum property standards
	Subdivision approvals
	Final inspection on properties