is Texas state certified and on the FHA Roster of approved residential appraisers.
This means that we are certified and approved by the FHA to do appraisals for home loans backed by them.
A certain amount of the ongoing training our staff at EDI Appraisals, Inc. receives deals exclusively 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-insured loan, it means it is backed by them.
The FHA does not provide funds to borrowers, rather, it provides lending agencies with safety with mortgage insurance in case the borrower does not pay his or her loan obligations.
Available to all consumers, FHA loan programs are made to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Unlike the VA appraiser panel, the lender working with FHA actually has the freedom to choose the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Those with lesser income or less starting money to use as a down-payment on a loan benefit the most from Federal Housing Administration loan programs.
