The FHA keeps a list of approved appraisers for each state - Chris Leister Appraisals, LLC is on the roster of approved appraisers for Texas.
We're certified and approved to do appraisal reports for FHA secured loans.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your home loan is FHA insured, 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 lender takes care of all the loaned money - the FHA simply backs the transaction by providing mortgage insurance in case the borrower defaults on his or her loan.
Low-income and moderate-income borrowers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to aid credit-worthy buyers get approved for mortgages that they otherwise would not.
Remember that the lending agency approving a loan associated with the FHA is free to select the appraisal company with which they'll work, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
The loan programs that the Federal Housing Administration offers are extremely helpful to purchasers with minimal starting capital.
