The FHA publishes a roster of approved appraisers for each state - Mass Appraisal Services is on the roster of approved appraisers for Virginia.
This indicates that we are qualified and approved by the FHA to do reports for home loans backed by them.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Mass Appraisal Services is well-trained on how to comply with the rules and regulations provided.
If your loan is FHA certified, that means that the loan has been secured by the FHA, which is a branch of 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 make sure that the loan is paid for in case the borrower doesn't pay their loan.
The FHA and their loan programs are formed to help low-to-moderate income homebuyers by easing credit qualifications.
Remember that the lending organization working with the the FHA 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 minimal starting capital.
