is California state certified and on the FHA Roster of approved residential appraisers.
We're qualified and approved to do reports for FHA secured loans.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your loan is FHA insured, that means that the loan has been secured by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD).
The lending company takes care of all the money in the loan - the FHA simply insures the loan by providing mortgage insurance in case the borrower defaults on his or her loan.
Low-income and moderate-income borrowers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to aid credit-worthy consumers get approved for mortgages that they otherwise would not.
Different from the VA appraiser panel, the lending agency working with FHA has the ability to pick the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
The loan programs that the Federal Housing Administration offers are invaluable to purchasers with less starting capital.