The FHA keeps the rolls of approved appraisers for each state - S & S Real Estate Appraisal Service is on the roster of approved appraisers for Wisconsin.
If you have an FHA-secured loan, be sure to get with S & S Real Estate Appraisal Service, as we are approved and qualified to perform FHA appraisal reports.
A certain amount of the continuing training our staff at S & S Real Estate Appraisal Service undergoes deals exclusively with comprehending the FHA's documentation and their rules and procedures.
An FHA loan is insured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD).
The lending organization provides all the loaned money - the FHA simply backs the transaction with mortgage insurance in case the borrower defaults on his or her loan.
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 consumers get approved for mortgages that they otherwise would not.
Remember that the lending agency approving a loan associated with the Federal Housing Administration is able to choose which appraisers they will use, unlike the VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are particularly helpful to those homebuyers with less accumulated cash.