The FHA keeps a roster of approved appraisers for each state - Woods Appraisal, LLC is on the roster of approved appraisers for Alabama.
If you have an FHA-insured mortgage, be sure to hire Woods Appraisal, LLC, as we are approved and certified to handle FHA appraisals.
A certain amount of the continuing training our staff at Woods Appraisal, LLC undergoes deals precisely with decoding the FHA's documentation and their rules and procedures.
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-insured loan, it means it is underwritten by them.
The FHA does not loan capital to borrowers. Rather, it provides lending agencies with security through mortgage insurance in case the borrower defaults on his or her loan obligations.
Low-income and moderate-income borrowers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to aid credit-worthy buyers get approved for mortgages that they otherwise would not.
Unlike the VA appraiser panel, the lender working with Federal Housing Administration has the freedom to choose 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.
Those with lesser incomes or less starting money to put down on a mortgage benefit the most from FHA loan programs.
