Value Source NWWe assure you that Value Source NW is an FHA-certified appraisal company in WA. This means that we are qualified and approved by the FHA to do appraisals for house loans backed by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Value Source NW if you need an appraisal done for an FHA-secured loan. The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA loan, it means it is backed by them. The lender provides all the loaned money; the FHA simply backs the transaction by providing mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-secured financial transaction; the point of the Federal Housing Administration is to cooperate with credit-worthy consumers to meet expectations and necessities for lenders that they otherwise would not. 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 incredibly helpful to those consumers with less accessible funding. |