Need an appraisal for an FHA-backed mortgage? Call Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants
Rest assured that Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants is an FHA-certified appraisal company in Virginia. Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants is certified and approved to do appraisal reports for FHA secured financial transactions. 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-insured loan, it means it is backed by them. None of the money in the loan is provided by the FHA; what the FHA does is ensure that the mortgage is taken care of in case the borrower doesn't pay their loan. The FHA and their loan programs are built to benefit low-to-moderate income purchasers help meet credit requirements if 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. The loan programs that the FHA provides are excessively useful to consumers with less starting income.