is Indiana state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-secured mortgage, be sure to hire Appraisal Associates of Southern Indiana, as we are approved and qualified to produce FHA appraisals.
A certain amount of the periodic training our staff at Appraisal Associates of Southern Indiana undergoes deals strictly with decoding the FHA's documentation and their rules and procedures.
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If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. |
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If your home loan is FHA approved, 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).
The FHA does not provide funds to borrowers. Rather, it provides lenders with safety through mortgage insurance in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are created to help low-to-moderate income consumers by easing credit requirements.
Remember that the lending agency approving a loan backed by the FHA is able to pick the appraisal company with which they'll work, different from VA appraisal panel.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Those with lesser incomes or less starting capital to use as a down-payment on a financial transaction are helped the most from FHA loan programs.