The FHA keeps a roster of approved appraisers for each state - Frank D Bittle SRA is on the roster of approved appraisers for Florida.
We're certified and approved to do appraisals for FHA secured loans.
A certain amount of the continuing training our staff at Frank D Bittle SRA undergoes deals precisely with decoding 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 backed by them.
The FHA does not loan funds to borrowers. Rather, it provides lending organizations with security through mortgage insurance 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 homebuyers by easing credit qualifications.
Unlike the VA appraiser panel, the lending agency working with FHA is allowed to choose the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Consumers with lower incomes or less starting capital to use as a down-payment on a mortgage are helped the most from Federal Housing Administration loan programs.