The FHA maintains a roster of approved appraisers for each state - Compass Appraisal is on the roster of approved appraisers for Florida.
If you have an FHA-insured loan, be sure to contact Compass Appraisal, as we are approved and certified to perform FHA appraisals.
A certain amount of the regular training our staff at Compass Appraisal undergoes deals precisely with understanding the FHA's documentation and their rules and procedures.
If your house loan is FHA certified, that means that the loan has been guaranteed by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD).
No part of the loan is provided by the FHA. What the FHA does is ensure that the loan is insured in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are formed to aid low-to-moderate income consumers by easing credit expectations.
Different from the VA appraiser panel, the lender working with Federal Housing Administration has the freedom to pick the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are particularly helpful to those homebuyers with less available starting capital.
