is Tennessee state certified and on the FHA Roster of approved residential appraisers.
This means that we are certified and approved by the FHA to do appraisals for property loans backed by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is secured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD).
None of the money in the loan is provided by the FHA. What the FHA does is ensure that the mortgage is taken care of in case the borrower defaults on his or her loan obligations.
Applicable to all purchasers, FHA loan programs are designed 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 FHA is authorized to select the appraisal company with which they'll work, 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 particularly beneficial to those buyers with less accumulated cash.
