The FHA keeps a roster of approved appraisers for each state - Warren Eugene Peacock is on the roster of approved appraisers for Florida. This means that we are certified and approved by the FHA to do reports for property loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Warren Eugene Peacock is well-trained on how to work in accordance with the rules and regulations provided.
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Be sure to contact Warren Eugene Peacock if you need an appraisal done for an FHA-secured loan. |
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If your home loan is FHA insured, that means that the loan has been secured by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD). The lending organization provides all the loaned money - the FHA simply backs the transaction by providing mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are built to assist low-to-moderate income purchasers by easing credit expectations. Different from the VA appraiser panel, the lender working with Federal Housing Administration actually has the ability to choose the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the Federal Housing Administration offers are lifesavers to purchasers with minimal starting income.