FHA Appraisal Checklist
The past year has brought rejuvenation to FHA financing. Loan amount in the 0000 and mortgage lending companies that have staffed up with qualified underwriters. The appraisal piece has been a mystery to many of the realtors, buyers and seller. An FHA appraisal has different criteria than a conforming loan appraisal. Many of the single family homes in the Walnut Creek area are good candidates for the FHA mortgage product. The interest rates are as competitive as conventional and FHA only requires a 3.5% down payment and credit scores in the 600 range. There are mortgage insurance costs, but if you compare the FHA loan to a conventional loan you may find that it fits your needs better. Alain Pinel Realtors has created an appraisal checklist that assists buyers and sellers to confirm a home’s qualification for a FHA loan. This checklist is a great way to help sellers market to a broader market and buyers to buy with a great mortgage product.
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This entry was posted on Wednesday, January 9th, 2013 at 6:05 pm and is filed under Hud Loans Qualifications. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.