We assure you that Folsom Appraisal Service, LLC is an FHA-approved appraisal company in Georgia.
This indicates that we are certified and approved by the FHA to do appraisal reports for house loans insured by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your home loan is FHA insured, that means that the loan has been secured by the Federal Housing Administration, which is underneath the United States Department of Housing and Urban Development (HUD).
None of the funds are provided by the FHA. What the FHA does is ensure that the mortgage is taken care of in case the borrower doesn't pay their loan.
Low-income and moderate-income consumers benefit the most from FHA-insured loan programs. The point of the Federal Housing Administration is to help credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Remember, the FHA differs from the VA appraiser panel in that the lender can select the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Purchasers with lesser incomes or less starting capital to use as a down-payment on a loan are assisted the most from FHA loan programs.
