No Appraisal Fha Mortgage

Believe it or not, there are still No Appraisal Fha Mortgage loans available. One of the biggest problems in purchasing a house these days is due to the appraisal. There are several factors that can go wrong including the home's value, peeling paint, minor holes in the walls, improper electrical wiring and more. Most home loans and mortgage programs require appraisals however if you purchase a HUD home you may qualify for a no appraisal FHA mortgage.

A conventional loan option for a no appraisal loan is Fannie Mae's HomePath Mortgage which allows a home buyer to buy a home with no appraisal, no PMI and a low down payment. This type of home loan is only available on Fannie Mae HomePath Homes.

For more information on a no appraisal FHA Mortgage, call us at 800-555-2098 or apply online today!

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About no appraisal FHA mortgage home loans

No appraisal FHA mortgages are insured by the Federal Housing Administration (FHA). The federal government insures the FHA mortgage lender against losses so banks are able to offer you the lowest FHA interest rates even though there is no appraisal required. No Appraisal FHA Mortgages are a great way to buy a home without the hassle of appraisal problems. Ask how you can be approved for a No Appraisal FHA home loan.
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What homes qualify for no appraisal FHA mortgages
For a purchase, HUD homes are the the only homes you can buy without an appraisal. HUD homes are homes owned by the Housing and Urban Development program which is part of the FHA. Because they already own the home they are not concerned with the homes value so they allow no appraisal FHA mortgages to purchase the home. For current FHA loan holders, FHA streamline refinances are another type of no appraisal FHA mortgage loans. If you are at a high interest rate we may be able to reduce your mortgage payment with no appraisal fee. Our loan officers at Riverbank are experienced in No Appraisal Fha Mortgage services and offer the lowest FHA mortgage rates available including:
- Streamline FHA mortgages with no appraisal
- No appraisal FHA mortgages for Purchase
- HUD homes with no appraisal Required
- No Appraisal FHA mortgage loans
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Benefits of a No Appraisal Fha Mortgage
There are several benefits to buying a home with no appraisal. First of all you will save the appraisal fee that the appraiser would charge for his time and services. Secondly the waiver of an appraisal offers up less changes to have issues such as required repairs or low home values. Lastly not requiring an appraisal speeds up the loan process and will get you into your home quickly.
- No Appraisal fees will save you $300-$600
- No Appraisal Issues to complicate financing
- No appraisal to hold up the home loan process