The FHA keeps a roster of approved appraisers for each state - RWA Appraisals is on the roster of approved appraisers for WA. If you have an FHA-loan, be sure to call RWA Appraisals, as we are approved and certified to produce FHA reports. 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 organization in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA-insured loan, it means it is backed by them. The FHA does not loan money to borrowers, rather, it provides lenders with safety through mortgage insurance in case the borrower defaults on his or her financial obligations. Available to all homebuyers, FHA loan programs are built to aid credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Down payments are often lower with an FHA loan despite using conventional market rates. Buyers with lesser income or less starting funds to use as a down-payment on a loan are helped the most from FHA loan programs.