The FHA retains a roster of approved appraisers for each state - Fuller Appraisals is on the roster of approved appraisers for California.
This means that we are certified and approved by the FHA to do appraisal reports for home loans insured by them.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Fuller Appraisals is well-trained on how to work in accordance with the rules and regulations provided.
An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
None of the funds are provided by the FHA. What the FHA does is see to it that the mortgage is insured in case the borrower doesn't pay their loan.
Applicable to all homebuyers, FHA loan programs are created to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Remember, the FHA is different from the VA appraiser panel in that the lender can select the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are particularly useful to those consumers with less accumulated cash.
