The FHA keeps a list of approved appraisers for each state - Absolute Appraisals Inc. is on the roster of approved appraisers for Colorado.
Absolute Appraisals Inc. is certified and approved to do appraisal reports for FHA secured loans.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Absolute Appraisals Inc. is well-trained on how to comply with the rules and regulations provided.
If your property loan is FHA insured, that means that the loan has been guaranteed by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
The lending company provides all the loaned money - the FHA simply secures the loan by providing mortgage insurance in case the borrower does not pay off his or her loan.
Low-income and moderate-income borrowers benefit the most from FHA-backed loan programs. The purpose of the Federal Housing Administration is to help credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Remember, the FHA differs from the VA appraiser panel in that the lending agency 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.
Consumers with lower incomes or less starting funds to use as a down-payment on a financial transaction are helped the most from FHA loan programs.
