is Texas state certified and on the FHA Roster of approved residential appraisers.
This means that we are certified and approved by the FHA to do reports for property loans insured by them.
A certain amount of the periodic training our staff at MJS Appraisal Services completes deals exclusively with understanding the FHA's documentation and their rules and procedures.
If your financial transaction is FHA approved, that means that the loan has been guaranteed by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD).
The FHA does not provide funds to borrowers. Rather, it provides lenders with safety by offering mortgage insurance in case the borrower does not pay his or her loan obligations.
Low-income and moderate-income borrowers benefit the most from FHA-insured loan programs. The point of the Federal Housing Administration is to aid credit-worthy buyers get approved for mortgages that they otherwise would not.
Remember, the FHA deviates from the VA appraiser panel in that the lending agency can select 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 particularly useful to those consumers with less available cash.