We assure you that Wabash Valley Appraisal is an FHA-approved appraisal firm in Indiana.
This means that we are qualified and approved by the FHA to do appraisals for property loans backed by them.
A certain amount of the continuing training our staff at Wabash Valley Appraisal undergoes deals strictly with comprehending 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.
The lending organization takes care of all the loaned money - the FHA simply secures the transaction through mortgage insurance in case the borrower does not pay off his or her loan.
Low-income and moderate-income homebuyers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to assist credit-worthy families and individuals 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.
Purchasers with lesser incomes or less starting funds to put down on a financial transaction are assisted the most from Federal Housing Administration loan programs.
