Choat Appraisals is your FHA certified appraisal companyThe FHA publishes a list of approved appraisers for each state - Choat Appraisals is on the roster of approved appraisers for FL. This indicates that we are qualified and approved by the FHA to do appraisals for property loans backed by them. A certain amount of the continuing training our staff at Choat Appraisals receives deals exclusively with understanding the FHA's documentation and their rules and procedures. If you're in need of an report for an FHA loan, please contact us, and we'll be able to help you right away. An FHA loan is backed by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The lending organization provides all the money in the loan; the FHA simply backs the transaction through mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income borrowers benefit from an FHA-backed financial transaction; the purpose of the Federal Housing Administration is to help credit-worthy potential buyers to meet expectations and necessities for lenders that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are extremely helpful to those homebuyers with less available cash. |