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Hello Lee, I was just browsing when I saw this post. I'm interested in getting FHA approved and would like to know what steps you've taken. Have you achieved your approval yet? 8)
AI has some very good courseson FHA and the appraisal process. If you want to try an on-line class, try McKissock. However, I recommend inspecting a property with an FHA appraiser to get your feet wet. It is really not that difficult, but there are a bunch of rules and guidelines that many appraisers don't realize HUD requires. Plus, you have to take a test to get FHA certified. I believe Sylvan learning centers were offering it here when I took the test.
The test is offered at Sylvan Learning Centers and is fairly easy to pass. But just passing the test will not show you the proper way to perform a FHA appraisal. If you can find someone to shadow on a FHA inspections, do it. I was lucky to train with a FHA appraiser back in the old roster days. You can easily make a mistake by not knowing the rules and regs.
Thanks for the reply's. I do have my trainer/mentor who has taken me out on a few FHA's. We were just talking about it in the newbie posts. I had my wife print our the handbook from the HUD site. Holy cow! Its over an inch and a half thick. They (HUD) don't even have the thing put together right and its their book! I will check out Sylvan and Mckissock (odd name). Thanks again.
PS, don't catch any flee's inspecting REO's!! 8)
Study the 4150.2 very throughly before you take the test. After passing the test and getting ready to actually do an appraisal, study the National HOC Reference Guide, which changes some things in the 4150.2 and since it is more recent than the 4150.2, it is the one to follow when doing the actual appraisal.
I was asked in every class I taught in the past three years when I was going to teach FHA again, I decided to give my class to the appraisers. It's a study guide and if you get one, you must study before you take the test, but it's available at www.fhatest.com and there are others, but I am prejudice and it's the best, haha.
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