Appraise Colorado Inc
The FHA maintains of approved appraisers for each state - Appraise Colorado Inc is on the roster of approved appraisers for CO. This indicates that we are qualified and approved by the FHA to do reports for house loans insured by them. Part of the regular training our staff at Appraise Colorado Inc undergoes deals precisely with decoding the FHA's documentation and their rules and procedures.
Be sure to contact Appraise Colorado Inc if you need an appraisal done for an FHA-secured loan.
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-secured loan, it means it is underwritten by them. None of the money in the loan is provided by the FHA; what the FHA does is make sure that the mortgage is paid for in case the borrower defaults on his or her loan obligations. Applicable to all homebuyers, FHA loan programs are made to aid credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Down payments are often lower with an FHA loan despite using conventional market rates. Purchasers with lower income or less starting funds to use as a down-payment on a financial transaction are assisted the most from FHA loan programs.