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To become an FHA appraiser, candidates must meet the Appraisal Foundation’s minimum requirements, including a college education, and complete additional education and experience requirements. They must also pass a national exam and submit an application to the FHA for listing on the evaluation list.
Potential candidates looking to become an FHA appraiser will need to follow some specific guidelines to obtain a license and certification. Those who are licensed but not certified cannot appraise FHA properties. Regardless of state requirements, however, applicants must meet all criteria set forth by the Appraisal Foundation — which includes a higher education — to gain eligibility for the FHA’s list. Meeting the aforementioned requirements will allow applicants to submit an application to the FHA, along with proof of eligibility, to be added to the FHA evaluation list.
A college education is a requirement to become an FHA appraiser, and while the Appraisal Foundation sets minimum requirements, states may have additional requirements. FHA appraisers will need to be either a certified residential appraiser or a certified general appraiser. An associate’s degree in any discipline or 21 credit hours in real estate-related courses will meet the educational requirements for a certified home appraiser. For a certified general appraiser, a bachelor’s degree in any discipline or 30 real estate-related credit hours is sufficient. Students must complete all courses at an accredited college or university recognized by the US Secretary of Education and then begin working towards becoming an FHA appraiser.
Checking with the state in which the candidate resides to verify licensing and certification requirements is the next step. While states may vary in these requirements, the Appraisal Foundation stipulates some minimum requirements for becoming an FHA appraiser. Other education is also required, with a certain number of hours in real estate appraisal courses for certified residential appraisers and more hours for certified general appraisers. Experience is the other main criterion, requiring applicants in 2011 to work under the supervision of a licensed and certified appraiser for a minimum of 2,500 hours in not less than 24 months for a certified home appraiser and 3,000 hours in not less than 30 months for a certified general appraiser period. In addition, approximately half of the hours should be dedicated to non-residential.
Completion of experience and education requirements allows candidates to sit for the national exam administered by the Appraisal Foundation. After passing the exam, candidates may submit an application to the FHA requesting a listing on the FHA evaluation list. Along with the application, applicants must demonstrate compliance with college requirements, real estate appraisal education requirements, experience requirements, and national exam results. Successful applicants are automatically added to the list without notification and will become an FHA evaluator, while unsuccessful applicants will receive a denial letter.
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