Rest assured that Appraisals Plus Inc is an FHA-certified appraisal provider in Washington.
If you have an FHA-secured mortgage, be sure to hire Appraisals Plus Inc, as we are approved and qualified to perform FHA appraisal reports.
A portion of the periodic training our staff at Appraisals Plus Inc receives deals precisely with decoding the FHA's documentation and their rules and procedures.
If your home loan is FHA certified, that means that the loan has been guaranteed by the Federal Housing Administration, which is part of 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 ensure that the loan is insured in case the borrower defaults on his or her loan obligations.
Accessible to all buyers, FHA loan programs are formed to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Remember that the lender approving a loan backed by the Federal Housing Administration is permitted to choose which appraisers they will use, unlike the VA appraisal panel.
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 lifesavers to consumers with less starting income.
