Rest assured that Meade & Associates is an FHA-approved appraisal company in Kentucky.
This indicates that we are certified and approved by the FHA to do reports for property loans insured by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your loan is FHA certified, that means that the loan has been guaranteed by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
The lender provides all the loaned money - the FHA simply secures the loan with mortgage insurance in case the borrower defaults on his or her loan.
Low-income and moderate-income homebuyers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to assist credit-worthy buyers get approved for mortgages that they otherwise would not.
Different from the VA appraiser panel, the lender working with FHA has the freedom to select the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Consumers with lower incomes or less starting funds to put down on a loan benefit the most from FHA loan programs.
