Need an appraisal for an FHA-backed mortgage? Call Mormando And Associates, Inc. (804)350-9819Mormando And Associates, Inc. (804)350-9819 is Virginia state certified and on the FHA Roster of approved residential appraisers. Mormando And Associates, Inc. (804)350-9819 is qualified and approved to do appraisal reports for FHA insured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is backed by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The lending organization takes care of all the financing - the FHA simply backs the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan. The FHA and their loan programs are created to assist low-to-moderate income buyers by easing credit expectations. Remember, the FHA is different from the VA appraiser panel in that the lending organization can select the appraiser. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. FHA loan programs are extremely beneficial to those buyers with less available funding. |
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