The FHA maintains a list of approved appraisers for each state - Amber Rice Appraisal is on the roster of approved appraisers for California.
We're certified and approved to do reports for FHA insured financial transactions.
A certain amount of the periodic training our staff at Amber Rice Appraisal receives deals strictly with understanding 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 loan, it means it is insured by them.
None of the funds are provided by the FHA. What the FHA does is see to it that the loan is insured in case the borrower doesn't pay their loan.
Applicable to all purchasers, FHA loan programs are made to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Remember, the FHA deviates from the VA appraiser panel in that the lending agency can choose the appraisal company.
Down payments are often lower with an FHA loan despite using conventional market rates.
Purchasers with lower incomes or less starting funds to use as a down-payment on a loan benefit the most from Federal Housing Administration loan programs.
