is Iowa state certified and on the FHA Roster of approved residential appraisers.
This means that we are qualified and approved by the FHA to do appraisal reports for property loans backed by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your 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 funds to borrowers. Rather, it provides lending agencies with protection with mortgage insurance in case the borrower does not pay his or her financial obligations.
The FHA and their loan programs are designed to benefit low-to-moderate income purchasers by easing credit qualifications.
Remember, the FHA differs from the VA appraiser panel in that the lender can pick the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
The loan programs that the FHA offers are invaluable to consumers with less starting income.
