Need an appraisal for an FHA-backed mortgage? Call Treasure Valley Appraisal Services
We assure you that Treasure Valley Appraisal Services is an FHA-approved appraisal provider. This means that we are certified and approved by the FHA to do appraisal reports for house loans backed by them. FHA’s guidelines, documentation and policies may seem difficult to comprehend, but the staff at Treasure Valley Appraisal Services is well-trained on how to comply with the rules and regulations provided.
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 loan, it means it is secured by them. No part of the loan is provided by the FHA. What the FHA does is see to it that the mortgage is paid for in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are formed to assist low-to-moderate income consumers by easing credit qualifications. Different from the VA appraiser panel, the lending organization working with FHA actually has the ability to pick the appraiser.
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 offers are incredibly useful to purchasers with minimal starting income.