Rest assured that Appraisal Management Group is an FHA-certified appraisal service in Oregon.
This means that we are qualified and approved by the FHA to do appraisals for home loans backed by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your property loan is FHA approved, that means that the loan has been secured by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
None of the funds are provided by the FHA. What the FHA does is ensure that the loan is taken care of in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are created to aid low-to-moderate income purchasers by easing credit qualifications.
Remember, the FHA is different from the VA appraiser panel in that the lending agency can select the appraisal company.
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 accumulated funding.
