The FHA maintains the rolls of approved appraisers for each state - Michael Smith Appraisals, Inc is on the roster of approved appraisers for Georgia. If you have an FHA-secured mortgage, be sure to call Michael Smith Appraisals, Inc, as we are approved and certified to produce FHA reports. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
|If you need an appraisal 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 organization within the U.S. Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers. Rather, it provides lending agencies with safety with mortgage insurance in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are designed to benefit low-to-moderate income homebuyers by easing credit expectations. Different from the VA appraiser panel, the lending agency working with FHA has the freedom to choose the appraiser. Down payments are often lower with an FHA loan despite using conventional market rates. Those with lesser incomes or less starting money to use as a down-payment on a financial transaction are assisted the most from FHA loan programs.