The FHA keeps a list of approved appraisers for each state - C.S. Heaton Appraisals Inc is on the roster of approved appraisers for Arizona.
If you have an FHA-mortgage, be sure to hire C.S. Heaton Appraisals Inc, as we are approved and qualified to perform FHA appraisal reports.
A certain amount of the periodic training our staff at C.S. Heaton Appraisals Inc completes deals strictly with comprehending the FHA's documentation and their rules and procedures.
If your home loan is FHA approved, that means that the loan has been secured by the FHA, which is part of the United States 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 mortgage is taken care of in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are designed to help low-to-moderate income consumers by easing credit expectations.
Remember, the FHA deviates from the VA appraiser panel in that the lender can 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.
Purchasers with lesser incomes or less starting capital to use as a down-payment on a loan are helped the most from Federal Housing Administration loan programs.