Rest assured that Payne Appraisal Services, Inc. is an FHA-certified appraisal practice in Georgia.
If you have an FHA-secured loan, be sure to get with Payne Appraisal Services, Inc., as we are approved and qualified to perform FHA reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your house loan is FHA certified, that means that it has been guaranteed by the Federal Housing Administration, which is underneath the United States Department of Housing and Urban Development (HUD).
None of the funds are provided by the FHA. What the FHA does is see to it that the mortgage is secure in case the borrower defaults on his or her loan obligations.
Low-income and moderate-income borrowers benefit the most from FHA-secured loan programs. The purpose of the Federal Housing Administration is to assist credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Remember, the FHA is different from the VA appraiser panel in that the lender can select the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Consumers with lower incomes or less starting capital to put down on a financial transaction are helped the most from FHA loan programs.
