The FHA maintains a list of approved appraisers for each state - Steven Kittle Appraisals is on the roster of approved appraisers for Missouri.
This means that we are certified and approved by the FHA to do appraisals for property loans insured by them.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Steven Kittle Appraisals is well-trained on how to comply with the rules and regulations provided.
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 secured by them.
No part of the loan is provided by the FHA. What the FHA does is make sure that the loan is secure in case the borrower defaults on his or her loan obligations.
Applicable to all purchasers, FHA loan programs are made to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Remember that the lending organization working with the the FHA is free to pick which appraisers they work with, unlike the VA appraisal panel.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
FHA loan programs are incredibly beneficial to those buyers with less available cash.