Rest assured that Appraise-Virginia is an FHA-approved appraisal practice in Virginia.
If you have an FHA-insured mortgage, be sure to get with Appraise-Virginia, as we are approved and qualified to produce FHA appraisals.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Appraise-Virginia is well-trained on how to comply with the rules and regulations provided.
If your house loan is FHA certified, that means that the loan has been guaranteed by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
The lender takes care of all the financing - the FHA simply insures the transaction through mortgage insurance in case the borrower defaults on his or her loan.
Applicable to all homebuyers, FHA loan programs are built to aid credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Remember that the lending organization approving a loan backed by the FHA is authorized to choose the appraisal company with which they'll work, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
The loan programs that the Federal Housing Administration offers are extremely useful to purchasers with less starting income.
