FHA Gives Lenders, Borrowers More Time to Use Appraisal Reports
The Federal Housing Administration (FHA) on Tuesday published Revised Appraisal Validity Periods guidance that extends the initial appraisal validity period from 120 days to 180 days and the appraisal update validity period from 240 days to one year for Single Family Title II forward mortgage programs.
These changes align FHA appraisal validity periods with industry practices, making it easier for lenders to manage appraisal validity while potentially reducing appraisal costs for mortgagees and ultimately, borrowers seeking FHA-insured mortgage financing. The guidance applies to case numbers assigned on or after June 1, 2022.
The appraisal validity period establishes the maximum time an appraisal report may be used for an FHA-insured mortgage. This also includes the time mortgagees can utilize an appraisal update to extend the initial appraisal validity period.
The updates highlighted in this guidance will be incorporated in a future version of the Single Family Housing Policy Handbook.
Latest from NAHBNow
Advocacy
May 14, 2026
NAHB Supports Amended Housing Bill Released by HouseNAHB Chairman Bill Owens issued the following statement on amended housing legislation released by the House.
Economics
May 14, 2026
Building Material Prices Increase at Fastest Pace in Three YearsPrices of building materials used in residential construction, excluding energy, were up 3.7% in April, the fastest pace in three years, according to the most recent Producer Price Index.
Latest Economic News
Economics
May 14, 2026
Mostly Unchanged Demand, Lending Conditions for Residential Mortgages in First QuarterLending standards and demand for most types of residential mortgages were essentially in the first quarter of 2026, according to the recent release of the Senior Loan Officer Opinion Survey (SLOOS). For commercial real estate (CRE) loans, lending standards for multifamily construction & development were essentially unchanged as well.
Economics
May 13, 2026
Residential Construction Input Prices Move Higher In AprilPrices rose across a host of goods and services used in residential construction. Rising energy prices were the primary driver, but transportation service prices also rose at their fastest pace since 2022. Meanwhile, building material prices, excluding energy, rose at their highest yearly rate in three years, up 3.7% from a year ago.
Economics
May 13, 2026
Delinquencies Holds Steady in First Quarter of 2026Consumer loan delinquency rates continued to normalize in the first quarter of 2026 as pandemic-related disruptions diminished and credit conditions moved closer to historical norms.