Pacific State Appraisal can do FHA mortgagesWe confidently state that Pacific State Appraisal is an FHA-certified appraisal service in California. If you have an FHA-insured mortgage, be sure to get with Pacific State Appraisal, as we are approved and certified to perform FHA appraisal reports. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Pacific State Appraisal is well-trained on how to comply with the rules and regulations provided.
An FHA loan is secured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending organization takes care of all the money in the loan - the FHA simply secures the transaction by providing mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are created to benefit low-to-moderate income buyers by easing credit requirements. Unlike the VA appraiser panel, the lending agency working with FHA is allowed to choose 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 extremely useful to those homebuyers with less accessible cash.