- Joined
- Jan 31, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Pennsylvania
Subject is a SFR purchased 2 yrs ago and recently renovate detached garage into a sales office. It exceeds the FHA 25% ratio now the UW comes back with this:
The appraisal would have to indicate that the zoning is residential, represents a legal use of the property, the business address shouldn’t be the property address, same w/ the phone. If it is just that he stores some equipment in the garage and doesn’t conduct business out of it, you should be ok.
It doesn't meet these requirements either, but I'm just curious if an UW can over ride FHA regs.
TC
The appraisal would have to indicate that the zoning is residential, represents a legal use of the property, the business address shouldn’t be the property address, same w/ the phone. If it is just that he stores some equipment in the garage and doesn’t conduct business out of it, you should be ok.
It doesn't meet these requirements either, but I'm just curious if an UW can over ride FHA regs.
TC