Need an appraisal for an FHA-backed mortgage? Call Westervelt Realty Advisors, LLCRest assured that Westervelt Realty Advisors, LLC is an FHA-approved appraisal service in VA. We're certified and approved to do appraisals for FHA insured loans. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Westervelt Realty Advisors, LLC is well-trained on how to comply with the rules and regulations provided. If you're in need of an appraisal report 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 backed by them. The FHA does not provide funds to borrowers, rather, it provides lending agencies with protection with mortgage insurance in case the borrower defaults on his or her financial obligations. Low-income and moderate-income borrowers benefit from an FHA-insured financial transaction; the purpose of the Federal Housing Administration is to aid credit-worthy potential buyers to meet expectations and necessities for lending agencies that they otherwise would not. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Those with lower income or less starting money to use as a down-payment on a loan are helped the most from Federal Housing Administration loan programs. |