The Appraisal Shoppe, Inc. is approved for FHA backed loans
The Appraisal Shoppe, Inc. is Virginia state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-insured mortgage, be sure to contact The Appraisal Shoppe, Inc., as we are approved and qualified to perform FHA appraisals.
FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at The Appraisal Shoppe, Inc. is well-trained on how to comply with the rules and regulations provided.
||If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away.
An FHA loan is backed by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
The lending organization provides all the money in the loan - the FHA simply secures the loan with mortgage insurance in case the borrower does not pay off his or her loan.
Low-income and moderate-income homebuyers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to assist credit-worthy buyers get approved for mortgages that they otherwise would not.
Remember that the lender working with the the FHA is free to pick their appraisers, unlike the VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
The loan programs that the FHA provides are extremely helpful to purchasers with less starting capital.