Need an appraisal for an FHA-backed mortgage? Call Pacific Appraisal Associates

Rest assured that Pacific Appraisal Associates is an FHA-approved appraisal company in WA. We're certified and approved to do appraisal reports for FHA insured loans. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Pacific Appraisal Associates is well-trained on how to work in accordance with the rules and regulations provided.

An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The lending company takes care of all the money in the loan; the FHA simply backs the loan by providing mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to help credit-worthy buyers to meet expectations and necessities for lenders 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. Consumers with lower income or less starting money to put down on a financial transaction are helped the most from FHA loan programs.