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FHA Fee's $

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laurielutton

Sophomore Member
Joined
Apr 8, 2008
Professional Status
Licensed Appraiser
State
California
I was just added to the FHA roster. I am ready to go as I have taken the class and have the approval.
I was just wondering what you all charge for your FHA appraisals?
 

CGgonnabee

Member
Joined
Apr 10, 2008
Professional Status
Certified General Appraiser
State
Virginia
We have been charging an additional $100 over regular fees. I had a broker tell me last week that "most everyone charges an additional $25". I doubt that what he said is true, but that is probably where the fee is headed.:(
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
I charge $25 more, BUT, $125 for a CIR. FHA says they should be no more than a Fannie or Freddie report.
 

TC

Elite Member
Gold Supporting Member
Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Pennsylvania
I charge 25 bucks above a standard URAR.

TC
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Adds about 15 minutes on site and about 15 in the report for a standard house, so I charge $50 extra. If the house is older I charge more $s because I know more time at the site and at the office.
 

starmansf

Sophomore Member
Joined
Jan 2, 2006
Professional Status
Certified Residential Appraiser
State
California
It sounds like extra work is required for FHA appraisals. I'm charging an extra $100. And I've never done one. I was just added to the appraiser roster in CA. This doesn't include additional inspections/forms. So that would put my fee in the $450 range for an initial appraisal. Additional fees to follow.

ps. no billing.
 

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
If you live in a state with a lot of Licensed Appraisers the FHA fees should go up as Licensed Appraisers will no longer be allowed to do FHA appraisals. This takes effect 10/1/08. There are some states that have a significant amount of Licensed Appraisers. In Michigan it is reportedly over half of the appraisers.

Supply and demand dictates fees.
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
FHA says they should be no more than a Fannie or Freddie report.

Well, when FHA has the same SOW as a Fannie or Freddie Report, then I will charge the same...but for now an increased SOW equals increased liability and an increase in Fees.....$50 extra for FHA in my case, but other appraisers I know charge $100 extra for FHA (though many of these appraisers have a base fee which is $50 less than my base fee).
 

laurielutton

Sophomore Member
Joined
Apr 8, 2008
Professional Status
Licensed Appraiser
State
California
If you live in a state with a lot of Licensed Appraisers the FHA fees should go up as Licensed Appraisers will no longer be allowed to do FHA appraisals. This takes effect 10/1/08. There are some states that have a significant amount of Licensed Appraisers. In Michigan it is reportedly over half of the appraisers.

Supply and demand dictates fees.


Where did you find that information???
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland

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