Sound Appraisal Group, Inc is approved for FHA mortgages
Sound Appraisal Group, Inc is WA state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-insured mortgage, be sure to get with Sound Appraisal Group, Inc, as we are approved and certified to handle FHA appraisals. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
Be sure to contact Sound Appraisal Group, Inc if you need an appraisal done for an FHA-secured loan.
An FHA loan is secured by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). None of the funds are provided by the FHA; what the FHA does is ensure that the mortgage is paid for in case the borrower defaults on his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-insured financial transaction; the point of the Federal Housing Administration is to assist credit-worthy potential buyers to meet expectations and necessities for lending agencies 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 Federal Housing Administration offers are exceedingly beneficial to purchasers with less starting income.