The FHA maintains a roster of approved appraisers for each state - Routt County Appraisers is on the roster of approved appraisers for Colorado.
Routt County Appraisers is qualified and approved to do appraisals for FHA insured loans.
Part of the regular training our staff at Routt County Appraisers completes deals exclusively with decoding the FHA's documentation and their rules and procedures.
If your loan is FHA insured, that means that the loan has been secured by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD).
The lender provides all the funds being borrowed - the FHA simply insures the loan with mortgage insurance in case the borrower defaults on his or her loan.
Low-income and moderate-income homebuyers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to help credit-worthy buyers get approved for mortgages that they otherwise would not.
Different from the VA appraiser panel, the lending agency working with Federal Housing Administration is allowed to select the appraiser.
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 available funding.
