is California state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do appraisals for property loans underwritten by them. Part of the continuing training our staff at Associate Appraisers of America undergoes deals exclusively with comprehending the FHA's documentation and their rules and procedures.
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Be sure to contact Associate Appraisers of America if you need an appraisal done for an FHA-secured loan. Leland Hill is also an approved 203k Consultant and can assist you with any questions regarding the 203k Rehab loan program. |
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An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers. Rather, it provides lenders with security by offering mortgage insurance in case the borrower defaults on his or her financial obligations. The FHA and their loan programs are created to aid low-to-moderate income homebuyers by easing credit qualifications. Unlike the VA appraiser panel, the lending agency working with Federal Housing Administration is allowed to pick the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates. Buyers with lesser incomes or less starting capital to use as a down-payment on a loan benefit the most from FHA loan programs.
