Rest assured that Capuano Appraisal Services is an FHA-certified appraisal company in Virginia. This means that we are certified and approved by the FHA to do reports for property loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Capuano Appraisal Services is well-trained on how to work in accordance with the rules and regulations provided.
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If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. |
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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 loan is an FHA loan, it means it is secured by them. The FHA does not loan funds to borrowers. Rather, it provides lenders with safety with mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income consumers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to help credit-worthy families and individuals get approved for mortgages that they otherwise would not. Remember, the FHA differs from the VA appraiser panel in that the lender can pick 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 extremely useful to those purchasers with less accumulated cash.
