is California state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-insured loan, be sure to hire Castle Appraisals, as we are approved and certified to perform FHA appraisals.
Part of the regular training our staff at Castle Appraisals receives deals exclusively with understanding the FHA's documentation and their rules and procedures.
An FHA loan is insured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD).
No part of the loan is provided by the FHA; what the FHA does is make sure that the loan is taken care of in case the borrower defaults on his or her loan obligations.
Low-income and moderate-income borrowers benefit the most from FHA-backed loan programs; the purpose of the Federal Housing Administration is to help credit-worthy buyers get approved for mortgages that they otherwise would not.
Remember, the FHA deviates from the VA appraiser panel in that the lending agency 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 extremely helpful to those buyers with less accessible starting capital.
