Need an appraisal for an FHA-backed mortgage? Call Electronic Appraisals

Rest assured that Electronic Appraisals is an FHA-certified appraisal company in WA. We're qualified and approved to do reports for FHA insured loans. A portion of the ongoing training our staff at Electronic Appraisals undergoes deals precisely with decoding the FHA's documentation and their rules and procedures.

The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA-secured loan, it means it is secured by them. None of the funds are provided by the FHA; what the FHA does is make sure that the mortgage is secure in case the borrower doesn't pay their loan. Low-income and moderate-income consumers benefit from an FHA-secured loan; the point of the Federal Housing Administration is to assist credit-worthy potential buyers to meet expectations and requirements for lenders that they otherwise would not.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are particularly helpful to those consumers with less accessible cash.