Need an appraisal for an FHA-backed mortgage? Call Wulf Appraisal Corp.

Wulf Appraisal Corp. is CA State Certified Residential Real Estate Appraiser and is on the FHA Roster of approved residential appraisers. This indicates that we are certified and approved by the FHA to do appraisal reports for home loans insured by them. We are well versed in the requirements for a FHA appraisal. Although there are some special requirements to get an FHA loan, you mainly want to ensure all maintenance is performed on your home. Things like CO/Smoke detectors, properly strapped water heaters, leaning or missing portions of fencing, and chipping/peeling exterior paint are the biggest things that can fail your home for an FHA loan.

*****CHIPPING OR PEELING PAINT IS THE BIGGEST ISSUE AND THIS INCLUDES ALL EXTERIOR SURFACES (EXCEPT FOUNDATION) OF A HOME. JUST MAKE SURE EVERYTHING IS PAINTED BEFORE AN APPRAISER COMES OUT. THIS WILL ENSURE YOUR HOME WILL PASS THE FIRST TIME AND YOU WILL NOT INCUR FURTHER FEES FOR THE APPRAISER TO COME BACK OUT TO VERIFY THE COMPLETION, AND WILL SPEED UP YOUR LOAN PROCESS.*****

Don't fret though, these are easily repaired items which, once fixed, will allow your loan to go through. If you have additional questions, please call us or check out FHA's own guidelines at https://www.hud.gov/program_offices/housing/sfh/handbook_4000-1

An FHA loan is backed by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The lending company takes care of all the loaned money; the FHA simply secures the loan through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income home buyers benefit from an FHA-insured financial transaction; the purpose of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and necessities for lending organizations that they otherwise would not.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the Federal Housing Administration offers are incredibly beneficial to buyers with less starting capital.

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