is Colorado state certified and on the FHA Roster of approved residential appraisers.
Deer Creek Appraisals is qualified and approved to do appraisals for FHA secured financial transactions.
Part of the ongoing training our staff at Deer Creek Appraisals undergoes deals strictly with comprehending the FHA's documentation and their rules and procedures.
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 underwritten by them.
The lender provides all the loaned money - the FHA simply secures the loan by providing mortgage insurance in case the borrower defaults on his or her loan.
Low-income and moderate-income borrowers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to help credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Remember, the FHA is different from the VA appraiser panel in that the lender can select the appraisal company.
Down payments are often lower with an FHA loan despite using conventional market rates.
Buyers with lesser incomes or less starting money to put down on a mortgage are assisted the most from FHA loan programs.