Rest assured that Appraisal Source of Virginia is an FHA-approved appraisal service in Virginia.
We are certified and approved to do reports for FHA secured financial transactions.
A portion of the ongoing training our staff at Appraisal Source of Virginia completes deals precisely with decoding the FHA's documentation and their rules and procedures.
If your home loan is FHA approved, that means that the loan has been secured by the FHA, which is part of the United States Department of Housing and Urban Development (HUD).
The lending organization takes care of all the financing - the FHA simply secures the transaction with mortgage insurance in case the borrower defaults on his or her loan.
Available to all buyers, FHA loan programs are made to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Unlike the VA appraiser panel, the lender working with Federal Housing Administration actually has the ability to pick the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are particularly useful to those buyers with less available funding.
