The FHA keeps the rolls of approved appraisers for each state - Andrea's Appraisal Services is on the roster of approved appraisers for Vermont.
Andrea's Appraisal Services is qualified and approved to do appraisals for FHA secured financial transactions.
Part of the periodic training our staff at Andrea's Appraisal Services completes deals exclusively with decoding the FHA's documentation and their rules and procedures.
An FHA loan is insured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD).
The lending company provides all the money in the loan - the FHA simply secures the transaction with mortgage insurance in case the borrower does not pay off his or her loan.
Low-income and moderate-income consumers benefit the most from FHA-insured loan programs. The point of the Federal Housing Administration is to help credit-worthy consumers get approved for mortgages that they otherwise would not.
Unlike the VA appraiser panel, the lending agency working with FHA is allowed to select 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 helpful to those consumers with less accumulated starting capital.
