The FHA maintains a list of approved appraisers for each state - Tri-County Appraisals is on the roster of approved appraisers for Colorado.
This means that we are certified and approved by the FHA to do reports for house loans insured by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is secured by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD).
The lender takes care of all the loaned money - the FHA simply secures the transaction through mortgage insurance in case the borrower defaults on his or her loan.
Low-income and moderate-income borrowers benefit the most from FHA-backed loan programs. The purpose of the Federal Housing Administration is to help credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Unlike the VA appraiser panel, the lending organization working with FHA has the ability to pick the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are particularly helpful to those consumers with less accessible funding.