is California state certified and on the FHA Roster of approved residential appraisers. We are qualified and approved to do appraisals for FHA secured loans. A certain amount of the continuing training our staff at Vandergoot Appraisals undergoes deals strictly with decoding the FHA's documentation and their rules and procedures.
An FHA loan is underwritten by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers. Rather, it provides lenders with protection with mortgage insurance in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are formed to assist low-to-moderate income homebuyers by easing credit qualifications. Remember that the lending agency working with the the Federal Housing Administration is able to choose which appraisers they will use, different from VA appraisal panel. Down payments are often lower with an FHA loan despite using conventional market rates. Those with lesser incomes or less starting capital to use as a down-payment on a financial transaction are helped the most from FHA loan programs.