The FHA retains a list of approved appraisers for each state - McGaughey & Associates is on the roster of approved appraisers for Texas.
This indicates that we are certified and approved by the FHA to do reports for property loans backed by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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If you need an appraisal 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 loan is an FHA-insured loan, it means it is backed by them.
The lender takes care of all the loaned money - the FHA simply secures the loan with mortgage insurance in case the borrower defaults on his or her loan.
The FHA and their loan programs are designed to aid low-to-moderate income buyers by easing credit qualifications.
Remember that the lending agency approving a loan associated with the Federal Housing Administration is permitted to pick which appraisers they will use, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are extremely useful to those buyers with less accumulated cash.