We assure you that Commonwealth Real Estate Appraisals, LLC. is an FHA-approved appraisal provider in Virginia.
If you have an FHA-insured mortgage, be sure to call Commonwealth Real Estate Appraisals, LLC., as we are approved and qualified to perform FHA appraisal reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is secured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD).
The FHA does not provide funds to borrowers. Rather, it provides lending organizations with safety with mortgage insurance in case the borrower does not pay his or her loan obligations.
Applicable to all consumers, FHA loan programs are built to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Remember, the FHA is different from the VA appraiser panel in that the lender can choose the appraisal company.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are incredibly beneficial to those buyers with less available starting capital.
