Rest assured that Tim Spaulding & Associates is an FHA-certified appraisal practice in Virginia.
If you have an FHA-insured mortgage, be sure to hire Tim Spaulding & Associates, as we are approved and qualified to handle FHA appraisal reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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If you're in need of an appraisal report 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 financial transaction is an FHA-secured loan, it means it is backed by them.
The lending organization provides all the loaned money - the FHA simply insures the transaction with mortgage insurance in case the borrower defaults on his or her loan.
Available to all buyers, FHA loan programs are made to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Remember that the lender working with the the Federal Housing Administration is free to select their appraisers, unlike the VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
Consumers with lower incomes or less starting capital to put down on a financial transaction benefit the most from Federal Housing Administration loan programs.