Need an appraisal for an FHA-backed mortgage? Call Anderson & Associates
The FHA maintains of approved appraisers for each state - Anderson & Associates is on the roster of approved appraisers for WA. This means that we are qualified and approved by the FHA to do reports for house loans insured by them. A portion of the ongoing training our staff at Anderson & Associates completes deals precisely with comprehending the FHA's documentation and their rules and procedures.
Be sure to contact Anderson & Associates if you need an appraisal done for an FHA-secured loan.
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 loan, it means it is underwritten by them. The FHA does not loan funds to borrowers, rather, it provides lending organizations with security through mortgage insurance in case the borrower defaults on his or her financial obligations. Low-income and moderate-income consumers benefit from an FHA-secured financial transaction; the purpose of the Federal Housing Administration is to cooperate with credit-worthy consumers to meet expectations and qualifications for lenders that they otherwise would not.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. The loan programs that the Federal Housing Administration provides are exceedingly beneficial to consumers with less starting capital.