Need an appraisal for an FHA-backed mortgage? Call Benchmark Appraisal Services, Inc.The FHA retains a list of approved appraisers for each state - Benchmark Appraisal Services, Inc. is on the roster of approved appraisers for Virginia. If you have an FHA-insured loan, be sure to call Benchmark Appraisal Services, Inc., as we are approved and certified to produce FHA reports. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Benchmark Appraisal Services, Inc. is well-trained on how to comply with the rules and regulations provided.
An FHA loan is backed by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers. Rather, it provides lending organizations with safety by offering mortgage insurance in case the borrower does not pay his or her loan obligations. The FHA and their loan programs are created to aid low-to-moderate income homebuyers by easing credit expectations. Different from the VA appraiser panel, the lending agency working with FHA has the freedom to select the appraiser. 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 offers are invaluable to buyers with minimal starting income. |
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