The FHA keeps a roster of approved appraisers for each state - Hier Appraisals is on the roster of approved appraisers for Colorado.
This means that we are certified and approved by the FHA to do appraisal reports for property loans underwritten by them.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Hier 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 financial transaction is an FHA loan, it means it is secured by them.
The FHA does not provide funds to borrowers. Rather, it provides lending agencies with security by offering mortgage insurance in case the borrower defaults on his or her financial obligations.
The FHA and their loan programs are designed to benefit low-to-moderate income purchasers by easing credit qualifications.
Remember that the lending agency approving a loan backed by the FHA is authorized to select their appraisers, unlike the VA appraisal panel.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
FHA loan programs are extremely helpful to those consumers with less accumulated starting capital.
