Rest assured that BURNHAM APPRAISAL CO. is an FHA-approved appraisal service in Nebraska.
We are qualified and approved to do appraisals for FHA secured loans.
A certain amount of the ongoing training our staff at BURNHAM APPRAISAL CO. undergoes deals precisely with understanding the FHA's documentation and their rules and procedures.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA-insured loan, it means it is secured by them.
No part of the loan is provided by the FHA. What the FHA does is ensure that the mortgage is secure in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are formed to aid low-to-moderate income homebuyers by easing credit expectations.
Different from the VA appraiser panel, the lender working with FHA has the freedom to pick the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are extremely useful to those consumers with less accessible cash.