M. Peterson AppraisalM. Peterson Appraisal is WA state certified and on the FHA Roster of approved residential appraisers. This means that we are certified and approved by the FHA to do appraisals for house loans backed by them. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at M. Peterson Appraisal is well-trained on how to work in accordance with the rules and regulations provided. 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. The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA loan, it means it is insured by them. The lending organization provides all the finances; the FHA simply backs the transaction with mortgage insurance in case the borrower does not pay off his or her loan. Applicable to all homebuyers, FHA loan programs are built to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Purchasers with lesser income or less starting capital to use as a down-payment on a loan are helped the most from FHA loan programs. |