Need an appraisal for an FHA-backed mortgage? Call Crest Appraisal Services
We are happy to say that Crest Appraisal Services is an FHA-certified appraisal firm in WA. This indicates that we are certified and approved by the FHA to do reports for property loans backed 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 agency in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-insured loan, it means it is secured by them. No part of the loan is provided by the FHA; what the FHA does is make sure that the loan is secure in case the borrower doesn't pay their loan. Available to all homebuyers, FHA loan programs are designed to help 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. The loan programs that the Federal Housing Administration offers are exceedingly helpful to buyers with less starting capital.