Need an appraisal for an FHA-backed mortgage? Call Crest Appraisal Services
The FHA publishes a list of approved appraisers for each state - Crest Appraisal Services is on the roster of approved appraisers for WA. This indicates that we are certified and approved by the FHA to do reports for home loans insured by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
Contact us today if you need to get an appraisal done on an FHA-insured loan.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-secured loan, it means it is backed by them. The lending organization provides all the money in the loan; the FHA simply secures the transaction with mortgage insurance in case the borrower does not pay off his or her loan. Available to all purchasers, FHA loan programs are made to aid credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Purchasers with lesser income or less starting capital to put down on a loan benefit the most from Federal Housing Administration loan programs.