The FHA keeps a roster of approved appraisers for each state - Caywood Appraisals is on the roster of approved appraisers for Idaho.
If you have an FHA-insured mortgage, be sure to call Caywood Appraisals, as we are approved and qualified to perform FHA appraisals.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA-secured loan, it means it is underwritten by them.
The FHA does not provide funds to borrowers. Rather, it provides lending agencies with protection through mortgage insurance 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 buyers by easing credit expectations.
Remember, the FHA is different from the VA appraiser panel in that the lending agency can pick the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
The loan programs that the Federal Housing Administration provides are incredibly useful to purchasers with minimal starting income.
