The FHA publishes a roster of approved appraisers for each state - Tonee Rockwell Appraisal is on the roster of approved appraisers for Washington.
We're certified and approved to do appraisal reports for FHA secured financial transactions.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is secured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD).
The FHA does not provide funds to borrowers. Rather, it provides lending organizations with protection by offering mortgage insurance in case the borrower does not pay his or her loan obligations.
The FHA and their loan programs are built to help low-to-moderate income buyers by easing credit expectations.
Remember, the FHA differs from the VA appraiser panel in that the lending organization can choose the appraiser.
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 buyers with less starting capital.
