The FHA publishes a list of approved appraisers for each state - First Appraisal is on the roster of approved appraisers for Florida.
If you have an FHA-loan, be sure to hire First Appraisal, as we are approved and certified to handle FHA appraisal reports.
A certain amount of the ongoing training our staff at First Appraisal receives deals precisely with decoding the FHA's documentation and their rules and procedures.
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If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. |
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An FHA loan is backed by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
The FHA does not provide funds to borrowers. Rather, it provides lenders with protection through mortgage insurance in case the borrower does not pay his or her financial obligations.
Low-income and moderate-income borrowers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to help credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Unlike the VA appraiser panel, the lending organization working with Federal Housing Administration is allowed to choose the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are incredibly useful to those homebuyers with less accumulated starting capital.