Rest assured that Reliable Residential is an FHA-certified appraisal practice in California.
We are qualified and approved to do reports for FHA insured loans.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Reliable Residential is well-trained on how to work in accordance with the rules and regulations provided.
If your house loan is FHA certified, that means that the loan has been guaranteed by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD).
The lending organization takes care of all the funds being borrowed - the FHA simply backs the transaction through mortgage insurance in case the borrower does not pay off his or her loan.
Low-income and moderate-income borrowers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to assist credit-worthy consumers get approved for mortgages that they otherwise would not.
Unlike the VA appraiser panel, the lender working with FHA has the freedom to choose the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are incredibly helpful to those purchasers with less accumulated starting capital.
