Financing in Mena>Question Details

Lrexroad, Other/Just Looking in Mena, AR

Regarding appraisal cost, average conventional loan appraisal is $350. How about FHA loan appraisals average?

Asked by Lrexroad, Mena, AR Sun Aug 23, 2009

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I have found that most appraisers charge about $50-$75 more to do FHA then conventional. Its because an FHA appraisal requires more licensing and a more work for them to complete.
0 votes Thank Flag Link Wed Aug 26, 2009
The price depends on the type of property (condo, single family) and the size (small, medium or Michael Vick's former residence). The larger the property, usually the higher the price. FHA can range from $300 to as much as $500. There is no set price. You may use your own appraiser or the lender's appraiser. So, if you have a friend who can cut his price for you, go for it. Just make sure he/she is licensed currently and can do FHA appraisals.
0 votes Thank Flag Link Mon Aug 24, 2009
Anymore, even conventional appraisals are more expensive due to the requirement of HVCC and Appraisal Management Companies inflating the cost of appraisals. FHA in this area is usually around $400, but when an appraiser calls to make the appointment I always suggest asking their fee and even negotiating at that point if necessary.
0 votes Thank Flag Link Sun Aug 23, 2009
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