The FHA keeps a roster of approved appraisers for each state - ASAP Real Estate Appraisals is on the roster of approved appraisers for California.
This indicates that we are certified and approved by the FHA to do appraisals for property loans backed by them.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at ASAP Real Estate Appraisals is well-trained on how to comply with the rules and regulations provided.
The FHA is the Federal Housing Administration, which is a federal organization 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.
The FHA does not loan money to borrowers. Rather, it provides lending organizations with security with mortgage insurance in case the borrower does not pay his or her financial obligations.
Accessible to all purchasers, FHA loan programs are designed to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Different from the VA appraiser panel, the lender working with Federal Housing Administration is allowed to pick the appraiser.
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 FHA provides are invaluable to consumers with less starting income.