The FHA publishes the rolls of approved appraisers for each state - Hardesty Appraisals, LLC is on the roster of approved appraisers for Kentucky.
This indicates that we are certified and approved by the FHA to do reports for house loans insured by them.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Hardesty Appraisals, LLC is well-trained on how to comply with the rules and regulations provided.
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 loan is an FHA-insured loan, it means it is secured by them.
The lending organization takes care of all the money in the loan - the FHA simply insures the loan by providing mortgage insurance in case the borrower does not pay off his or her loan.
Low-income and moderate-income borrowers benefit the most from FHA-insured loan programs. The point of the Federal Housing Administration is to assist credit-worthy buyers get approved for mortgages that they otherwise would not.
Remember that the lending agency working with the the FHA is permitted to pick which appraisers they work with, unlike the VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are extremely beneficial to those homebuyers with less accumulated funding.