is Washington state certified and on the FHA Roster of approved residential appraisers.
Bennett Appraisals, Inc. is qualified and approved to do reports for FHA insured loans.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Bennett Appraisals, Inc. is well-trained on how to follow 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-insured loan, it means it is backed by them.
The lender provides all the funds being borrowed - the FHA simply backs the loan through mortgage insurance in case the borrower does not pay off his or her loan.
Accessible to all homebuyers, FHA loan programs are formed to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Different from the VA appraiser panel, the lender working with FHA actually has the ability to select the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are incredibly beneficial to those consumers with less available starting capital.