is Delaware state certified and on the FHA Roster of approved residential appraisers.
This means that we are qualified and approved by the FHA to do appraisal reports for property loans insured by them.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Delaware Home Valuations is well-trained on how to follow the rules and regulations provided.
An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
None of the money in the loan is provided by the FHA. What the FHA does is ensure that the loan is taken care of in case the borrower doesn't pay their loan.
Low-income and moderate-income consumers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to assist credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Remember that the lending agency approving a loan backed by the Federal Housing Administration is permitted to pick which appraisers they work with, unlike the VA appraisal panel.
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 lifesavers to buyers with minimal starting income.