The FHA publishes the rolls of approved appraisers for each state - Russell Hornsby is on the roster of approved appraisers for Kentucky.
This means that we are certified and approved by the FHA to do appraisals for home loans backed by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is secured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD).
The lender takes care of all the financing - the FHA simply secures the transaction through mortgage insurance in case the borrower does not pay off his or her loan.
The FHA and their loan programs are created to help low-to-moderate income buyers by easing credit expectations.
Remember, the FHA differs from the VA appraiser panel in that the lending organization can choose the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are particularly beneficial to those homebuyers with less accumulated cash.
