The FHA maintains a list of approved appraisers for each state - Academy Appraisal, LLC is on the roster of approved appraisers for Virginia.
We are certified and approved to do reports for FHA secured financial transactions.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Academy Appraisal, LLC is well-trained on how to comply with the rules and regulations provided.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA loan, it means it is underwritten by them.
The lending company takes care of all the financing - the FHA simply insures the transaction through mortgage insurance in case the borrower does not pay off his or her loan.
Available to all consumers, FHA loan programs are built to aid 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.
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 particularly helpful to those homebuyers with less available starting capital.
