The FHA maintains the rolls of approved appraisers for each state - Crowe Appraisals is on the roster of approved appraisers for Oklahoma.
This indicates that we are qualified and approved by the FHA to do appraisals for property loans insured by them.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Crowe Appraisals is well-trained on how to follow the rules and regulations provided.
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 loan, it means it is secured by them.
The FHA does not loan money to borrowers. Rather, it provides lenders with protection with mortgage insurance in case the borrower does not pay his or her loan obligations.
Applicable to all purchasers, FHA loan programs are made to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Remember that the lending agency approving a loan backed by the Federal Housing Administration is free to select the appraisal company with which they'll work, unlike the VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are particularly helpful to those homebuyers with less available cash.