The FHA publishes the rolls of approved appraisers for each state - KDR Appraisal Services is on the roster of approved appraisers for Connecticut.
We're certified and approved to do appraisals for FHA insured financial transactions.
A certain amount of the periodic training our staff at KDR Appraisal Services undergoes deals exclusively with decoding the FHA's documentation and their rules and procedures.
If your house 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).
No part of the loan is provided by the FHA. What the FHA does is ensure that the mortgage is taken care of in case the borrower doesn't pay their loan.
Low-income and moderate-income consumers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to aid credit-worthy consumers get approved for mortgages that they otherwise would not.
Remember that the lender approving a loan associated with the Federal Housing Administration is permitted to select the appraisal company with which they'll work, unlike the VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
Buyers with lower incomes or less starting money to put down on a financial transaction are assisted the most from FHA loan programs.
