Residential Real Estate Appraisers, Inc is your North East Florida FHA certified appraisal companyWe confidently state that Residential Real Estate Appraisers, Inc is an FHA-approved appraisal practice in Florida, serving St Johns, Duval, and Clay counties. This indicates that we are certified and approved by the FHA to do appraisal reports for property loans underwritten 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 that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending organization provides all the money in the loan - the FHA simply secures the transaction with mortgage insurance in case the borrower does not pay off his or her loan. Available to all buyers, FHA loan programs are made to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Remember that the lending organization working with the the FHA is allowed to choose their appraisers, 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 particularly beneficial to those buyers with less available funding.
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