We confidently state that Murray Appraisal Group is an FHA-certified appraisal provider in Texas.
This means that we are qualified and approved by the FHA to do appraisals for property loans insured by them.
A certain amount of the periodic training our staff at Murray Appraisal Group receives deals exclusively with decoding 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-insured loan, it means it is insured by them.
None of the money in the loan is provided by the FHA. What the FHA does is ensure that the loan is secure in case the borrower doesn't pay their loan.
The FHA and their loan programs are formed to assist low-to-moderate income homebuyers by easing credit expectations.
Remember that the lending agency approving a loan associated with the FHA is allowed to select the appraisal company with which they'll work, unlike the VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
Consumers with lower incomes or less starting money to put down on a loan benefit the most from FHA loan programs.
