We are happy to say that Brandlin Appraisal Service is an FHA-approved appraisal firm in California. This means that we are certified and approved by the FHA to do appraisals for house loans backed by them. A certain amount of the ongoing training our staff at Brandlin Appraisal Service completes deals exclusively with comprehending the FHA's documentation and their rules and procedures.
An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). None of the funds are provided by the FHA; what the FHA does is make sure that the mortgage is insured in case the borrower doesn't pay their loan. The FHA and their loan programs are created to aid low-to-moderate income homebuyers by easing credit requirements. Remember, the FHA differs from the VA appraiser panel in that the lending organization can select the appraisal company.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Buyers with lesser income or less starting funds to use as a down-payment on a financial transaction are assisted the most from FHA loan programs.
