Rest assured that Andy Johnson & Company is an FHA-approved appraisal firm in Colorado.
This means that we are certified and approved by the FHA to do appraisal reports for property loans backed by them.
A portion of the periodic training our staff at Andy Johnson & Company completes deals exclusively with comprehending the FHA's documentation and their rules and procedures.
An FHA loan is insured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD).
None of the money in the loan is provided by the FHA; what the FHA does is make sure that the loan is insured in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are formed to help low-to-moderate income buyers by easing credit expectations.
Unlike the VA appraiser panel, the lending agency working with FHA is allowed to choose 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.
The loan programs that the FHA provides are lifesavers to consumers with less starting income.
