The FHA maintains a roster of approved appraisers for each state - Adam's Appraisal Services is on the roster of approved appraisers for Idaho.
Adam's Appraisal Services is certified and approved to do reports for FHA secured loans.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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 financial transaction is an FHA loan, it means it is underwritten by them.
None of the funds are provided by the FHA. What the FHA does is see to it that the mortgage is secure in case the borrower defaults on his or her loan obligations.
Low-income and moderate-income consumers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to aid credit-worthy consumers get approved for mortgages that they otherwise would not.
Remember that the lender approving a loan associated with the Federal Housing Administration is able to pick which appraisers they work with, different from 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.
The loan programs that the Federal Housing Administration provides are incredibly useful to purchasers with less starting capital.
