While mortgages of different varieties will share many common features, there is one thing about the FHA mortgage that is unique. FHA has its own property requirements.

These property requirements are intended to protect both lender and buyer. It protects the buyer by preventing them from buying a home that is in terrible condition.

It protects the lender by making sure the home is worth at least as much as the loan.

Understanding these requirements will help buyers and sellers through the appraisal process and not be alarmed if there are issues noted on the appraiser's report.