Free Mortgage Guide Contribuitor

Karen Heston of Bank of Oklahoma Mortgage Division has provided for us some excellent common sense articles about your credit, mortgages and getting a home loan.

Karen has over 15 years of experience in mortgage financing, appraising, relocation, closing management and REO asset management. With her knowledge of current regulations, she has the ability to eliminate the confusion and intimidation that frequently accompanies the home buying process.

She is a regular guest on “The Future of Real Estate” with Darryl Baskin as heard on News/Talk 740 KRMG every Saturday at 12:30pm.

FHA Appraisal Summary Guidelines for Home Buyers and Sellers

Appraiser, Bob Bryant, says that some expectations of appraisers have not changed such as noting peeling paint, wood rot, look into crawl space under houses, look into attic, obviious structural issues, windows must open in all bedrooms, apparent safe electrical wiring.

The old days of a VC sheet (value conditions) where an appraiser also inspected the house while performing the appraisal, are gone but FHA still asks appraisers to give notice on the appriasal if serious issues exist. The VC sheet is what developed FHA’s reputation of being difficult for home sellers and home buyers often mistakenly relied on the FHA appraiser instead of hiring their own home inspector.

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