The FHA retains the rolls of approved appraisers for each state - Mid-State Appraisal Services, Inc. is on the roster of approved appraisers for Washington.
This indicates that we are certified and approved by the FHA to do reports for home loans underwritten by them.
FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Mid-State Appraisal Services, Inc. is well-trained on how to work in accordance with the rules and regulations provided.
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If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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If your home loan is FHA certified, 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).
None of the money in the loan is provided by the FHA. What the FHA does is see to it that the loan is paid for in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are formed to assist low-to-moderate income purchasers by easing credit requirements.
Remember, the FHA is different from the VA appraiser panel in that the lending agency can select the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
Those with lesser incomes or less starting funds to use as a down-payment on a financial transaction are helped the most from FHA loan programs.