is Virginia state certified and on the FHA Roster of approved residential appraisers.
This indicates that we are certified and approved by the FHA to do appraisal reports for property loans insured by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA-secured loan, it means it is secured by them.
The lending organization provides all the money in the loan - the FHA simply insures the transaction through mortgage insurance in case the borrower defaults on his or her loan.
Low-income and moderate-income homebuyers benefit the most from FHA-secured loan programs. The purpose of the Federal Housing Administration is to help credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Remember, the FHA deviates from the VA appraiser panel in that the lender can choose the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Purchasers with lower incomes or less starting capital to use as a down-payment on a loan are assisted the most from Federal Housing Administration loan programs.
