Certified Commonwealth Appraisals, LLC can do FHA loansCertified Commonwealth Appraisals, LLC is VA state certified and on the FHA Roster of approved residential appraisers. Certified Commonwealth Appraisals, LLC is qualified and approved to do reports for FHA insured loans. A portion of the periodic training our staff at Certified Commonwealth Appraisals, LLC undergoes deals precisely with decoding the FHA's documentation and their rules and procedures. If you're in need of an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. 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-insured loan, it means it is backed by them. The FHA does not loan money to borrowers, rather, it provides lending agencies with safety through mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income consumers benefit from an FHA-secured loan; the point of the Federal Housing Administration is to assist credit-worthy buyers to meet expectations and requirements 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. Those with lower income or less starting money to use as a down-payment on a mortgage benefit the most from Federal Housing Administration loan programs. |