Rest assured that Curiel Appraisal Service is an FHA-approved appraisal practice in Texas.
This means that we are qualified and approved by the FHA to do appraisal reports for house loans backed by them.
Part of the continuing training our staff at Curiel Appraisal Service receives deals strictly 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 insured by them.
No part of the loan is provided by the FHA. What the FHA does is ensure that the mortgage is paid for in case the borrower doesn't pay their loan.
Low-income and moderate-income borrowers benefit the most from FHA-insured loan programs. The point of the Federal Housing Administration is to aid credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Remember that the lender working with the the FHA is permitted to pick which appraisers they work with, unlike the VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
Those with lower incomes or less starting funds to use as a down-payment on a mortgage are assisted the most from Federal Housing Administration loan programs.
