Rest assured that Global Appraisal Shop, Inc. is an FHA-approved appraisal practice in Florida.
This indicates that we are qualified and approved by the FHA to do appraisals for property loans backed by them.
A portion of the regular training our staff at Global Appraisal Shop, Inc. undergoes deals exclusively with comprehending the FHA's documentation and their rules and procedures.
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If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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An FHA loan is backed by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD).
The FHA does not loan capital to borrowers. Rather, it provides lenders with protection through mortgage insurance in case the borrower does not pay his or her financial obligations.
The FHA and their loan programs are designed to aid low-to-moderate income buyers by easing credit qualifications.
Different from the VA appraiser panel, the lender working with FHA actually has the ability to select the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
Consumers with lesser incomes or less starting capital to put down on a financial transaction are helped the most from FHA loan programs.