is Arizona state certified and on the FHA Roster of approved residential appraisers.
Appraisals By Law is certified and approved to do appraisals for FHA secured loans.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Appraisals By Law is well-trained on how to comply with the rules and regulations provided.
If your home loan is FHA approved, that means that it has been secured by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
The FHA does not provide funds to borrowers. Rather, it provides lenders with security with mortgage insurance in case the borrower does not pay his or her financial obligations.
Low-income and moderate-income homebuyers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to help credit-worthy buyers get approved for mortgages that they otherwise would not.
Remember, the FHA deviates from the VA appraiser panel in that the lending organization can select the appraisal company.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Buyers with lesser incomes or less starting money to put down on a loan are assisted the most from Federal Housing Administration loan programs.
