Need an appraisal for an FHA-backed mortgage? Call Anderson & Associates
We confidently state that Anderson & Associates is an FHA-approved appraisal practice in WA. This indicates that we are certified and approved by the FHA to do appraisals for home loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Anderson & Associates is well-trained on how to comply with the rules and regulations provided.
If you're in need of an report for an FHA loan, please contact us, and we'll be able to help you right away.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA-insured loan, it means it is secured by them. The lending organization takes care of all the loaned money; the FHA simply secures the loan through mortgage insurance in case the borrower does not pay off his or her loan. Applicable to all buyers, FHA loan programs are made to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Buyers with lower income or less starting capital to put down on a loan are helped the most from Federal Housing Administration loan programs.