The FHA keeps the rolls of approved appraisers for each state - Ty Amanns is on the roster of approved appraisers for Tennessee.
This means that we are certified and approved by the FHA to do appraisals for home loans backed by them.
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 it has been secured by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD).
The lending company takes care of all the loaned money - the FHA simply insures the loan 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 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 working with the the FHA is allowed to pick their appraisers, different from VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
The loan programs that the Federal Housing Administration offers are extremely beneficial to consumers with minimal starting income.
