The scope of Springhouse appraisal management services is not limited to just appraisal order and delivery. We provide our clients with a solution oriented approach to the changing mortgage lending industry. In today's economic climate lenders have tightening borrower qualification criteria resulting in the popularity of the FHA backed loan. Springhouse is prepared for this product trend and has a network of FHA appraisers available in all 50 states to accommodate your needs!
The Federal Housing Administration (FHA) Government Loan allows an at risk borrower to better qualify for a loan because the risk is removed from the lender by the FHA, who insures the loan if defaulted on. FHA loans are available to anyone, and can be used to purchase or refinance a home. As of January 1st 2009 FHA purchased loans will require a down payment of at least 3.5 percent.
In addition, The Department of Housing and Urban Development (HUD) requires an FHA appraisal for all FHA insured loans. To conduct FHA appraisals HUD requires a minimum standard to be met by all FHA appraisers including continuing education and training and state licensing or certification. The elevated standards are required because the FHA appraiser is not only concerned with the property value but is also expected to require repair or replacement of anything that may affect the safe, sound and sanitary habitation of the subject property that, in turn, may affect the health and safety of the borrower. FHA appraisers take a standard inspection one step further. An FHA appraiser is required to locate problems with electrical, heating and air-conditioning systems, defects with roofs and foundations, lead based paint hazards, smoke detector placement and asbestos and mold infestations, among other things.
There are many options when it comes to outsourcing your appraisal process but service and compliance is what makes Springhouse appraisal management the industry leader. We always monitor industry trends and provide proactive solutions for our clientele and the recent demand for FHA Appraisers is no exception. To place an FHA appraisal request visit our Order Online page or email your request to firstname.lastname@example.org.
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by phone 502-384-0727
by fax 314-754-8111