The FHA keeps the rolls of approved appraisers for each state - Appraisal Solutions LLC is on the roster of approved appraisers for Alabama.
We are certified and approved to do appraisals for FHA insured financial transactions.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
||If you're in need of an appraisal for an FHA loan, please contact us, and we'll be able to help you right away.
If your home loan is FHA approved, that means that the loan has been guaranteed by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
The lending organization takes care of all the financing - the FHA simply secures the loan with mortgage insurance in case the borrower does not pay off his or her loan.
Low-income and moderate-income consumers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to help credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Remember that the lender approving a loan backed by the FHA is free to choose which appraisers they work with, unlike the 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.
The loan programs that the FHA offers are extremely useful to consumers with minimal starting income.