The FHA maintains a list of approved appraisers for each state - The Appraisal Shoppe, Inc. is on the roster of approved appraisers for South Carolina.
We're qualified and approved to do appraisals for FHA secured loans.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at The Appraisal Shoppe, Inc. 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 financial transaction is an FHA loan, it means it is insured by them.
The FHA does not provide funds to borrowers. Rather, it provides lending organizations with security by offering mortgage insurance in case the borrower defaults on his or her loan obligations.
Low-income and moderate-income borrowers benefit the most from FHA-secured 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.
Remember, the FHA is different from the VA appraiser panel in that the lending agency can choose the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
Buyers with lower incomes or less starting funds to put down on a loan are assisted the most from FHA loan programs.
