We are happy to say that My Appraisal Office LLC is an FHA-certified appraisal company in Washington.
If you have an FHA-insured mortgage, be sure to contact My Appraisal Office LLC, as we are approved and qualified to perform FHA appraisal reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your property loan is FHA approved, that means that it has been guaranteed by the Federal Housing Administration, which is underneath the United States Department of Housing and Urban Development (HUD).
No part of the loan is provided by the FHA. What the FHA does is see to it that the mortgage is taken care of in case the borrower defaults on his or her loan obligations.
Low-income and moderate-income homebuyers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to assist credit-worthy consumers get approved for mortgages that they otherwise would not.
Remember that the lending agency approving a loan backed by the Federal Housing Administration is free to select which appraisers they will use, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
The loan programs that the FHA offers are invaluable to buyers with less starting capital.