What are the Florida appraisal requirements for a mortgage after Hurricane Ian?

First off, our hearts and prayers go out to all that have been affected by this deadly storm. We hope that everyone was able to survive the storm safely and also that power, water, and internet can be restored as quickly as possible to those that are in need.

In the wake of the Hurricane Ian’s path of destruction, I wanted to follow up to discuss the appraisal re-inspection requirements for mortgage loans in Florida post Hurricane Ian.

Tampa FL USDA Approved Lender List

Please note that FEMA issued a major disaster declaration effective 9/29/22, so if the effective date of the appraisal was on or before that date, then an appraisal update re-inspection will be required.

Additional information or certification as to a property’s condition status may be required for those properties located outside of a FEMA-Declared Disaster Area that is eligible for Individual Assistance.

For those affected properties, we have already begun to schedule appraisal re-inspections so that we are able to be prepared in those counties that require an appraisal update for our Florida loans post Hurricane Ian.

As a quick review, here are the general requirements from an appraiser when they go go back out to a property to complete the appraisal re-inspection request:

  1. Although the appraisal forms can vary depending on program and specific lender requirements, the appraiser may generally utilize either Freddie Mac Form 2055 or Fannie Mae Form 1004D unless interior photos are also needed.Florida Appraisal Requirements after Hurricane Ian
  2. Once the report is completed, the mortgage lender will review to determine eligibility requirements have been met.
  3. Provided the property is eligible, we can then move forward with the loan process as normal and prepare for closing.

With over 21 years of lending experience, Metroplex is know for coordinating all of these steps from right within our office. If you do have questions, please call us to discuss at 800-806-9836 x280.

Our office has full power and has resumed full operations and our usual Saturday hours from 11:00-3:00.

Also, for those that do not have email ability or internet just yet, know that we are available by phone/text at 863-593-2001 to assist with any questions or scenarios.

After multiple discussions this week regarding potential property related issues, remember that we do have the ability to finance certain USDA home repairs and renovations into the loan to be completed after closing. Please reach out with any questions or scenarios to see if we can assist.

Sean Stephens
NMLS# 185288

Call/Text: 863-593-2001

(800)806-9836 Ext. 280