Mike Chaves AppraisalsMike Chaves Appraisals is CA state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-insured loan, be sure to contact Mike Chaves Appraisals, as we are approved and qualified to produce FHA appraisal reports. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Mike Chaves Appraisals if you need an appraisal done for an FHA-secured loan. 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 loan is an FHA-secured loan, it means it is insured by them. The lending company provides all the finances; the FHA simply backs the loan with mortgage insurance in case the borrower does not pay off his or her loan. Available to all buyers, FHA loan programs are built to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Consumers with lesser income or less starting capital to put down on a financial transaction benefit the most from Federal Housing Administration loan programs. |