Olsen General Appraisal LLC is approved for FHA appraisalsOlsen General Appraisal LLC is WA state certified and on the FHA Roster of approved residential appraisers. This means that we are certified and approved by the FHA to do reports for house loans backed by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Olsen General Appraisal LLC if you need an appraisal done for an FHA-secured loan. The FHA is the Federal Housing Administration, which is a federal organization 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. None of the money in the loan is provided by the FHA; what the FHA does is ensure that the mortgage is paid for in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-insured loan; the purpose of the Federal Housing Administration is to cooperate with credit-worthy consumers 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. Those with lower income or less starting capital to use as a down-payment on a loan are assisted the most from Federal Housing Administration loan programs. |