is Alabama state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-loan, be sure to call Advance Appraisal and Consultant Inc., as we are approved and qualified to handle FHA appraisal reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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If you're in need of an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. |
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If your loan is FHA certified, that means that the loan has been secured by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
The FHA does not loan capital to borrowers. Rather, it provides lending organizations with safety by offering mortgage insurance in case the borrower does not pay his or her financial obligations.
Low-income and moderate-income homebuyers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to assist credit-worthy consumers get approved for mortgages that they otherwise would not.
Remember that the lender approving a loan associated with the Federal Housing Administration is able to select which appraisers they will use, unlike the VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are extremely beneficial to those homebuyers with less accumulated cash.