The FHA publishes a list of approved appraisers for each state - Citiwide Appraisal is on the roster of approved appraisers for Missouri.
This indicates that we are certified and approved by the FHA to do appraisal reports for home loans underwritten by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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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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If your property loan is FHA insured, that means that the loan has been secured by the FHA, which is part of the United States Department of Housing and Urban Development (HUD).
The FHA does not loan money to borrowers. Rather, it provides lending organizations with safety with mortgage insurance in case the borrower defaults on his or her financial obligations.
Low-income and moderate-income homebuyers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to assist credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Different from the VA appraiser panel, the lending agency working with Federal Housing Administration actually has the ability to pick the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
Purchasers with lower incomes or less starting capital to put down on a financial transaction benefit the most from FHA loan programs.