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!