The FHA keeps the rolls of approved appraisers for each state - Crispell Associates is on the roster of approved appraisers for Pennsylvania.
We're certified and approved to do appraisals for FHA insured financial transactions.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your loan is FHA approved, that means that it has been secured by the FHA, which is part of the United States Department of Housing and Urban Development (HUD).
The lending organization takes care of all the funds being borrowed - the FHA simply insures the loan with mortgage insurance in case the borrower does not pay off his or her loan.
The FHA and their loan programs are formed to help low-to-moderate income purchasers by easing credit qualifications.
Remember that the lending organization working with the the FHA is permitted to pick the appraisal company with which they'll work, different from VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
The loan programs that the Federal Housing Administration provides are invaluable to purchasers with minimal starting income.