Ways to get pre-accepted getting an FHA mortgage Property criteria Plus the borrower’s certificates, the home must meet up with the FHA’s minimal possessions criteria to finance a good foreclosed home with a keen FHA financing. Appraisal required. Prior to approving the borrowed funds, the HUD tend to assign an enthusiastic FHA-acknowledged appraiser to examine the home. Not only can new appraiser assess the home’s worthy of, but they’ll and additionally point out one high destroy that might be a problem.