The FHA keeps the rolls of approved appraisers for each state - Nelson Appraisal Services is on the roster of approved appraisers for Georgia.
We are qualified and approved to do appraisals for FHA insured financial transactions.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your house loan is FHA approved, that means that it has been guaranteed by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD).
The lender provides all the funds being borrowed - the FHA simply backs the loan with mortgage insurance in case the borrower does not pay off his or her loan.
Low-income and moderate-income consumers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to assist credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Remember that the lending organization working with the the Federal Housing Administration is permitted to choose 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.
Consumers with lower incomes or less starting capital to put down on a loan benefit the most from Federal Housing Administration loan programs.