Useful Life

• The FHA requires that a property that is under contract for purchase to have at least two years of useful life in it. Useful life is the estimated amount of time that an element of a property can be used without repair or maintenance. This assessment is made by an FHA certified appraiser.
  
  

Roof Areas

• The useful life requirement is applicable to any and all roofing areas attached to a property. This includes garage roofs, patios and porches as long as they are affixed to a property. Roofs attached to sheds or other buildings that are not used as livable spaces are not considered part of the requirement for usable life.
  
  

Considerations

• Roofs with less than two years of estimated usable life will need to be replaced prior to being approved for an FHA mortgage. This can be done at the expense of either the seller or the buyer. The cost for a roof replacement will vary based on geographical area, type of roof and the size of the property.