We are happy to say that Appraisal Care is an FHA-approved appraisal company in California. If you have an FHA-mortgage, be sure to call Appraisal Care, as we are approved and qualified to handle FHA appraisal reports. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Appraisal Care is well-trained on how to work in accordance with the rules and regulations provided.
An FHA loan is secured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers. Rather, it provides lending organizations with protection with mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income consumers benefit the most from FHA-insured loan programs. The point of the Federal Housing Administration is to help credit-worthy consumers get approved for mortgages that they otherwise would not. Remember, the FHA deviates from the VA appraiser panel in that the lending agency can select the appraisal company.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the FHA provides are lifesavers to buyers with minimal starting capital.
