We are happy to say that BOB'S APPRAISAL SERVICE is an FHA-certified appraisal provider in Tennessee.
This indicates that we are qualified and approved by the FHA to do reports for home loans underwritten by them.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at BOB'S APPRAISAL SERVICE is well-trained on how to work in accordance with the rules and regulations provided.
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If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA-secured loan, it means it is backed by them.
None of the money in the loan is provided by the FHA. What the FHA does is see to it that the loan is paid for in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are created to assist low-to-moderate income homebuyers by easing credit qualifications.
Remember that the lender working with the the Federal Housing Administration is free to choose their appraisers, unlike the VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are incredibly beneficial to those consumers with less available funding.
