Rest assured that Appraisal-One is an FHA-approved appraisal provider in California. This indicates that we are certified and approved by the FHA to do reports for house loans underwritten by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA loan, it means it is backed by them. No part of the loan is provided by the FHA. What the FHA does is ensure that the mortgage is secure in case the borrower doesn't pay their loan. Accessible to all consumers, FHA loan programs are made to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Remember that the lending agency approving a loan backed by the Federal Housing Administration is able to select the appraisal company with which they'll work, unlike the VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates. Purchasers with lower incomes or less starting capital to use as a down-payment on a mortgage are helped the most from Federal Housing Administration loan programs.
