The FHA retains a list of approved appraisers for each state - Trump Residential Appraisals, LLC is on the roster of approved appraisers for Indiana. This indicates that we are qualified and approved by the FHA to do appraisals for property loans backed by them. A portion of the periodic training our staff at Trump Residential Appraisals, LLC completes deals exclusively with decoding the FHA's documentation and their rules and procedures.
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If you're in need of an appraisal 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 organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers. Rather, it provides lending organizations with protection through mortgage insurance in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are formed to aid low-to-moderate income consumers by easing credit requirements. Remember that the lending agency approving a loan associated with the Federal Housing Administration is authorized to select which appraisers they will use, unlike the 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 capital.