is Virginia state certified and on the FHA Roster of approved residential appraisers.
We're qualified and approved to do reports for FHA insured loans.
A certain amount of the continuing training our staff at SUBURBAN APPRAISERS & CONSULTANTS undergoes deals precisely with decoding the FHA's documentation and their rules and procedures.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA-secured loan, it means it is backed by them.
The lending company provides all the loaned money - the FHA simply backs the transaction with mortgage insurance in case the borrower does not pay off his or her loan.
The FHA and their loan programs are built to benefit low-to-moderate income purchasers by easing credit qualifications.
Remember, the FHA is different from the VA appraiser panel in that the lender can select the appraisal company.
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 extremely useful to those buyers with less accumulated funding.
