The FHA publishes a list of approved appraisers for each state - Personal Service Realty's Residential Valuation Group is on the roster of approved appraisers for Florida.
We're qualified and approved to do reports for FHA insured financial transactions.
A portion of the ongoing training our staff at Personal Service Realty's Residential Valuation Group undergoes deals precisely with understanding the FHA's documentation and their rules and procedures.
If your house loan is FHA insured, that means that the loan has been secured by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
The lender provides all the money in the loan - the FHA simply insures the transaction with mortgage insurance in case the borrower defaults on his or her loan.
Applicable to all consumers, FHA loan programs are built to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Remember, the FHA is different from the VA appraiser panel in that the lending agency can choose the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
Those with lower incomes or less starting capital to use as a down-payment on a mortgage are assisted the most from FHA loan programs.
