FHA Appraisals

I am qualified and approved to do appraisals for FHA insured loans. 

A FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money. Rather, it provides lenders protection through mortgage insurance protection (MIP).

Available to all buyers, FHA loan programs are designed to help creditworthy low-income and moderate-income families.  FHA limits vary by location. Santa Clara County is classified as a High Cost area. On Feb 23, 2009 the FHA announced new loan limits, that revert to the previous high limits.  For example, on Jan 1, 2009, the Santa Clara County FHA loan limit was $625,500 for a single family home.  Effective Feb 23, 2009, this limit increased to $729,750 for mortgages originated in 2009 under the provisions of the American Recovery and Reinvestment Act of 2009. Refer to http://www.ofheo.gov/Regulations.aspx?Nav=128  as the FHA's online lookup tool at https://entp.hud.gov/idapp/html/hicostlook.cfm had not been updated as of Feb 25, 2009.

The following shows the new 2009 limits per the Feb 23, 2009 FHA announcement.

Metropolitan, Micropolitan, or County Name	Limit 1-Unit	Limit 2-Unit	Limit 3-Unit	Limit 4-Unit
San Jose-Sunnyvale-Santa Clara (Metropolitan Area) Component Counties: San Benito, Santa Clara	$729,750	$934,200	$1,129,250	$1,403,400
San Francisco-Oakland-Fremont (Metropolitan Area) Component Counties: Alameda, Contra Costa, Marin, San Francisco, San Mateo	$729,750	$934,200	$1,129,250	$1,403,400
Sacramento--Arden-Arcade--Roseville (Metropolitan Area) Component Counties: El Dorado, Placer, Sacramento, Yolo	$580000	$742,500	$897,500	$1,115,400