We assure you that Farmer Appraisal Services is an FHA-approved appraisal provider in Texas.
We are qualified and approved to do appraisal reports for FHA secured loans.
A certain amount of the regular training our staff at Farmer Appraisal Services undergoes deals strictly with decoding the FHA's documentation and their rules and procedures.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA loan, it means it is backed by them.
None of the money in the loan is provided by the FHA. What the FHA does is ensure that the loan is taken care of in case the borrower doesn't pay their loan.
Low-income and moderate-income consumers benefit the most from FHA-secured loan programs. The purpose of the Federal Housing Administration is to assist credit-worthy buyers get approved for mortgages that they otherwise would not.
Remember that the lending agency working with the the FHA is authorized to pick which appraisers they work with, unlike the VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
The loan programs that the Federal Housing Administration provides are lifesavers to buyers with minimal starting income.
