The FHA retains the rolls of approved appraisers for each state - Greg Scorza Real Estate Appraiser is on the roster of approved appraisers for Texas.
We are qualified and approved to do reports for FHA insured financial transactions.
Part of the regular training our staff at Greg Scorza Real Estate Appraiser receives deals precisely with comprehending the FHA's documentation and their rules and procedures.
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 loan is an FHA-insured loan, it means it is underwritten by them.
The lending organization provides all the money in the loan - the FHA simply insures the transaction by providing mortgage insurance in case the borrower defaults on his or her loan.
Low-income and moderate-income homebuyers benefit the most from FHA-insured loan programs. The point of the Federal Housing Administration is to assist credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Unlike the VA appraiser panel, the lender working with FHA actually has the ability 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.
Purchasers with lesser incomes or less starting funds to use as a down-payment on a financial transaction benefit the most from Federal Housing Administration loan programs.
