The FHA retains a roster of approved appraisers for each state - Lundquist Appraisals & Real Estate Services is on the roster of approved appraisers for Indiana.
We're certified and approved to do appraisals for FHA insured loans.
A certain amount of the periodic training our staff at Lundquist Appraisals & Real Estate Services completes deals strictly with comprehending the FHA's documentation and their rules and procedures.
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If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. |
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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 loan is an FHA-secured loan, it means it is backed by them.
The lender takes care of all the loaned money - the FHA simply insures 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-secured loan programs. The purpose of the Federal Housing Administration is to aid credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Unlike the VA appraiser panel, the lending agency working with FHA is allowed to pick the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
The loan programs that the FHA provides are invaluable to consumers with minimal starting capital.
