Rest assured that Farrell Appraisal Services is an FHA-certified appraisal company in Virginia.
If you have an FHA-loan, be sure to contact Farrell Appraisal Services, as we are approved and certified to perform FHA appraisal reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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An FHA loan is secured by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD).
The lending company provides all the money in the loan - the FHA simply backs the loan by providing mortgage insurance in case the borrower defaults on his or her loan.
Low-income and moderate-income homebuyers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to help credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Remember, the FHA is different from the VA appraiser panel in that the lending agency can choose the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
FHA loan programs are incredibly helpful to those buyers with less accumulated starting capital.