is Florida 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 insured by them. A certain amount of the continuing training our staff at Appraisal Group One completes deals exclusively with comprehending the FHA's documentation and their rules and procedures.
An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The lending organization takes care of all the funds being borrowed - the FHA simply backs the transaction through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income consumers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to assist credit-worthy buyers get approved for mortgages that they otherwise would not. Remember that the lender approving a loan associated with the FHA is authorized to select their appraisers, 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. FHA loan programs are incredibly beneficial to those consumers with less accessible funding.
