The FHA maintains a roster of approved appraisers for each state - Amis Appraisals is on the roster of approved appraisers for Alabama.
We are qualified and approved to do reports for FHA insured financial transactions.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Amis Appraisals is well-trained on how to follow the rules and regulations provided.
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-secured loan, it means it is backed by them.
No part of the loan is provided by the FHA. What the FHA does is see to it that the mortgage is paid for in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are formed to assist low-to-moderate income homebuyers by easing credit requirements.
Unlike the VA appraiser panel, the lending organization working with Federal Housing Administration actually has the ability to choose the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are extremely useful to those homebuyers with less accessible starting capital.
