Need an appraisal for an FHA-backed mortgage? Call Fariss Appraisal Services

The FHA maintains of approved appraisers for each state - Fariss Appraisal Services is on the roster of approved appraisers for CA. If you have an FHA-secured mortgage, be sure to contact Fariss Appraisal Services, as we are approved and qualified to handle FHA appraisal reports. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Fariss Appraisal Services 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 it has been guaranteed by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD). The lender takes care of all the money in the loan; 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 consumers benefit from an FHA-secured loan; the point of the Federal Housing Administration is to cooperate with credit-worthy consumers to meet expectations and qualifications 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. The loan programs that the FHA provides are extremely helpful to buyers with less starting income.