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Anyone heard of a USDA Rural Housing Service?

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shadow77

Thread Starter
Freshman Member
Joined
Oct 28, 2007
Professional Status
Certified Residential Appraiser
State
Florida
I just got an order for a USDA Rural Housing Service. I've never heard of this before, so I called the client and was told to inspect it as if it were an FHA assignment and complete it on the 1004 form. Can anyone shed some light on this kind of assignment?
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
It is for the most part an FHA inspection and appraisal, except FHA is not an intended user, USDA is. They require that you make the statement that the subject meets FHA MPR per 4150.2 and 4905.1. In the past, they did have some additional thermal (insulation) requirements, but those have been dropped. So just do it just like an FHA.
 

Roy Courtney

Senior Member
Joined
Dec 8, 2006
Professional Status
Certified General Appraiser
State
Texas
It is a VERY legit assignment. Get all of those that you can! It is a government program that is for a rural area for low income applicants. Proceed as if the assignment was FHA with no case number. There is plenty of info on the web! Good luck with it!
 

shadow77

Thread Starter
Freshman Member
Joined
Oct 28, 2007
Professional Status
Certified Residential Appraiser
State
Florida
Thanks for the info. I appreciate it.
 

hglenbetts

Senior Member
Joined
Dec 3, 2007
Professional Status
Certified Residential Appraiser
State
Michigan
Ditto Mr. Rex.

Here's their site http://www.rurdev.usda.gov/rhs/

You may need to include a form "Exhibit E".
I've also need to complete an "Existing Home Certificate" for the Michigan office. May be different for you.
 
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