is Texas state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-loan, be sure to contact All Star Realty & Appraisals, Inc., as we are approved and certified to handle FHA appraisal reports.
A certain amount of the ongoing training our staff at All Star Realty & Appraisals, Inc. receives deals precisely with understanding 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 loan is an FHA loan, it means it is backed by them.
The FHA does not loan money to borrowers. Rather, it provides lenders with safety by offering mortgage insurance in case the borrower defaults on his or her financial obligations.
Low-income and moderate-income borrowers benefit the most from FHA-insured loan programs. The point of the Federal Housing Administration is to help credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Remember, the FHA is different 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 lower incomes or less starting capital to put down on a financial transaction benefit the most from FHA loan programs.
