The FHA retains a roster of approved appraisers for each state - Certified Independent Appraisals is on the roster of approved appraisers for Connecticut.
This indicates that we are certified and approved by the FHA to do appraisals for property loans underwritten by them.
Part of the periodic training our staff at Certified Independent Appraisals undergoes deals precisely with decoding the FHA's documentation and their rules and procedures.
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If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA-secured loan, it means it is underwritten by them.
No part of the loan is provided by the FHA. What the FHA does is see to it that the loan is paid for in case the borrower doesn't pay their loan.
Low-income and moderate-income borrowers benefit the most from FHA-backed 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 lender working with FHA actually has the ability to choose the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Those with lesser incomes or less starting money to put down on a mortgage are assisted the most from Federal Housing Administration loan programs.