Residential / FHA Lenders
An Appraiser needs more than just a license
HUD maintains a roster of appraisers who have satisfied the requirements that are in addition to those required at the state level for appraisal certification. Further, the appraisers on this roster are continually monitored for quality control purposes. If an appraiser's opinions are shown to differ widely from actuality, they will be dropped from the roster.
At ArkLaTex Appraisals, we take pride in maintaining our HUD eligiblility status.
What is a HUD/FHA loan? Why is it different?
A HUD (Housing and Urban Development) loan is one that is insured by the FHA (Federal Housing Administration). HUD does not loan the money directly to the borrower, but rather provides lenders protection by offering mortgage insurance. In the times where lending standards are impossibly high for some through traditional means, this additional insurance may make the difference in whether a loan application is accepted or rejected.
Do you have FHA questions? Many answers to questions can be found Here. Or, you can always Contact Us to discuss individual concerns and questions.
Contact Us to discuss how we can help you with your FHA appraisal assignment.