is Indiana state certified and on the FHA Roster of approved residential appraisers.
This indicates that we are certified and approved by the FHA to do reports for home loans underwritten by them.
FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Collins Appraisal Group Inc is well-trained on how to work in accordance with the rules and regulations provided.
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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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If your loan is FHA certified, that means that the loan has been guaranteed by the FHA, which is part of the United States Department of Housing and Urban Development (HUD).
The lending company takes care of all the loaned money - the FHA simply backs the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan.
The FHA and their loan programs are created to assist low-to-moderate income purchasers by easing credit qualifications.
Remember that the lending agency approving a loan backed by the Federal Housing Administration is allowed to select which appraisers they work with, unlike the VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Buyers with lesser incomes or less starting funds to use as a down-payment on a loan are helped the most from FHA loan programs.