George PatmoreGeorge Patmore is CA state certified and on the FHA Roster of approved residential appraisers. This means that we are qualified and approved by the FHA to do appraisal reports for property loans insured by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact George Patmore if you need an appraisal done for an FHA-secured loan. 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 financial transaction is an FHA loan, it means it is secured by them. None of the funds are 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. Low-income and moderate-income homebuyers benefit from an FHA-insured financial transaction; the point of the Federal Housing Administration is to cooperate with credit-worthy buyers to meet expectations and requirements for lending agencies that they otherwise would not. 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 extremely useful to those buyers with less available starting capital. |