The FHA maintains a roster of approved appraisers for each state - Carolyn D. Breeding, Appraisal Services is on the roster of approved appraisers for California.
This indicates that we are certified and approved by the FHA to do appraisal reports for house loans underwritten by them.
Part of the regular training our staff at Carolyn D. Breeding, Appraisal Services completes deals exclusively with decoding the FHA's documentation and their rules and procedures.
If your house loan is FHA approved, that means that the loan has been secured by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD).
The FHA does not loan money to borrowers. Rather, it provides lending agencies with protection through mortgage insurance in case the borrower defaults on his or her loan obligations.
Applicable to all homebuyers, FHA loan programs are built to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Remember that the lending organization approving a loan backed by the Federal Housing Administration is permitted to choose their appraisers, unlike the VA appraisal panel.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
FHA loan programs are incredibly helpful to those homebuyers with less accumulated cash.
