Need an appraisal for an FHA-backed mortgage? Call Crest Appraisal Services
The FHA maintains of approved appraisers for each state - Crest Appraisal Services is on the roster of approved appraisers for WA. This indicates that we are qualified and approved by the FHA to do appraisals for property loans underwritten 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 financial transaction is an FHA-secured loan, it means it is underwritten by them. The lending organization provides all the finances; the FHA simply secures the loan with mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income borrowers benefit from an FHA-insured financial transaction; the purpose of the Federal Housing Administration is to cooperate with credit-worthy consumers to meet expectations and qualifications for lenders that they otherwise would not.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the Federal Housing Administration provides are incredibly helpful to purchasers with less starting capital.