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FHA Appraisals With prices declining, many California buyers are looking to FHA for security and lower downpayments. Appraisal Systems has approved certified residential appraisers to help you. An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on his or her loan obligations. Available to all buyers, FHA loan programs are designed to help creditworthy 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 appraiser. However, in the advent of Home Valuation Code of Conduct (HVCC) the ordering process for FHA appraisals will change for ALL lenders. See HVCC for more detailed explanation. FHA loan programs are particularly beneficial to those buyers with less available cash. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. If you're in need of an appraisal for an FHA loan, please contact us and we'll be able to help you right away. Our FHA number is: CAAR012030
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