Lakeridge Appraisal GroupThe FHA publishes a list of approved appraisers for each state - Lakeridge Appraisal Group is on the roster of approved appraisers for WA. Lakeridge Appraisal Group is qualified and approved to do appraisal reports for FHA insured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents. 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-secured loan, it means it is secured by them. No part of the loan is provided by the FHA; what the FHA does is make sure that the loan is taken care of in case the borrower defaults on his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-insured loan; the purpose of the Federal Housing Administration is to cooperate with credit-worthy potential buyers to meet expectations and necessities for lenders that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the FHA provides are exceedingly useful to purchasers with less starting income. |