The FHA maintains a list of approved appraisers for each state - pH Real Estate Services, Inc. is on the roster of approved appraisers for Mississippi.
This indicates that we are qualified and approved by the FHA to do appraisal reports for home loans underwritten by them.
FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at pH Real Estate Services, Inc. is well-trained on how to comply with the rules and regulations provided.
If your property loan is FHA certified, that means that the loan has been guaranteed by the Federal Housing Administration, which is underneath the United States Department of Housing and Urban Development (HUD).
The FHA does not loan capital to borrowers, rather, it provides lending organizations with protection with mortgage insurance in case the borrower defaults on his or her financial obligations.
The FHA and their loan programs are built to aid low-to-moderate income homebuyers by easing credit expectations.
Remember that the lending agency approving a loan associated with the Federal Housing Administration is able to choose the appraisal company with which they'll work, unlike the VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Buyers with lower income or less starting money to use as a down-payment on a loan are assisted the most from FHA loan programs.
