The FHA maintains the rolls of approved appraisers for each state - Duke Appraisal Service is on the roster of approved appraisers for Tennessee.
Duke Appraisal Service is qualified and approved to do reports for FHA secured loans.
A certain amount of the regular training our staff at Duke Appraisal Service undergoes deals precisely with comprehending the FHA's documentation and their rules and procedures.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA-insured loan, it means it is secured by them.
The FHA does not loan funds to borrowers. Rather, it provides lending organizations with security by offering mortgage insurance in case the borrower does not pay his or her loan obligations.
The FHA and their loan programs are built to help low-to-moderate income buyers by easing credit requirements.
Remember that the lending agency working with the the FHA is free to pick which appraisers they work with, unlike the VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are particularly beneficial to those purchasers with less accessible cash.
