We assure you that Parkway Appraisal Group is an FHA-approved appraisal service in Virginia.
Parkway Appraisal Group is qualified and approved to do reports for FHA insured financial transactions.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is backed by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD).
The FHA does not loan money to borrowers. Rather, it provides lenders with security with mortgage insurance in case the borrower defaults on his or her financial obligations.
Low-income and moderate-income consumers benefit the most from FHA-insured loan programs. The point of the Federal Housing Administration is to help credit-worthy buyers get approved for mortgages that they otherwise would not.
Different from the VA appraiser panel, the lending agency working with FHA is allowed to choose 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.
FHA loan programs are incredibly helpful to those purchasers with less accessible funding.
