is state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do reports for property loans backed by them. A portion of the periodic training our staff at receives deals strictly with understanding the FHA's documentation and their rules and procedures. Be sure to contact if you need an appraisal done for an FHA-secured loan. An FHA loan is secured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA; what the FHA does is make sure that the loan is secure in case the borrower defaults on his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-insured financial transaction; the point of the Federal Housing Administration is to help credit-worthy consumers to meet expectations and qualifications for lending organizations that they otherwise would not. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Buyers with lower income or less starting capital to put down on a loan are assisted the most from FHA loan programs. |