We assure you that Approved Appraisals of Indiana is an FHA-certified appraisal provider in Indiana.
This means that we are qualified and approved by the FHA to do appraisal reports for house loans underwritten by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA-secured loan, it means it is backed by them.
No part of the loan is provided by the FHA. What the FHA does is see to it that the loan is taken care of in case the borrower doesn't pay their loan.
Available to all purchasers, 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 that the lender working with the the Federal Housing Administration is free to choose which appraisers they work with, different from VA appraisal panel.
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 provides are invaluable to consumers with less starting capital.
