The FHA publishes a roster of approved appraisers for each state - Camille McDonald & Associates is on the roster of approved appraisers for Mississippi.
This indicates that we are certified and approved by the FHA to do appraisals for property loans backed by them.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Camille McDonald & Associates is well-trained on how to work in accordance with the rules and regulations provided.
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If you're in need of 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 organization in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA-insured loan, it means it is secured by them.
No part of the loan is provided by the FHA. What the FHA does is make sure that the loan is secure in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are designed to help low-to-moderate income purchasers by easing credit qualifications.
Remember, the FHA deviates from the VA appraiser panel in that the lender can pick the appraisal company.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Purchasers with lower incomes or less starting capital to put down on a loan benefit the most from FHA loan programs.