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FHA Insurance Estimate Requirement?

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db10ac

Freshman Member
Joined
May 28, 2017
Professional Status
Appraiser Trainee
State
Tennessee
Was told that I am required to include estimated insurance costs and real estate taxes per month for the subject property. Does any know if this is accurate?, and if so how is it presented in the report?
 

JTip

Elite Member
Joined
Oct 12, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Insurance costs: My state (PA) requires a license (producers) to sell and quote P&C premiums. I do not carry a license and cannot provide any insurance estimates. Call 1800Progressive, give them my referral number 3323232, for a quote. They will send me a tshirt for the referral.

Taxes: See page 1 of the URAR for current property tax. Please apply this formula to calculate the monthly premium: Annual tax / 12 = monthly tax cost. My HP12c batteries died after 18 years of tapping buttons, the client can figure it out.
 

David S. Roberson

Senior Member
Gold Supporting Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
I think I vaguely remeber that requirement 30 years ago?
 

Rlong

Senior Member
Joined
Jan 31, 2002
Professional Status
Certified General Appraiser
State
Colorado
Thats just silly, FHA has no such requirement.
 
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