is Colorado state certified and on the FHA Roster of approved residential appraisers. We are approved and certified to perform FHA appraisals. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Asset Valuation Consultants is well-trained on how to follow the rules and regulations provided.
An FHA loan is backed by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). No part of the loan is provided by the FHA. What the FHA does is ensure that the loan is insured in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are built to benefit low-to-moderate income purchasers by easing credit expectations. Remember that the lending agency working with the the FHA is allowed to pick which appraisers they will use, unlike the VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are extremely useful to those homebuyers with less available funding.
