Rest assured that Freistroffer Appraisal Service / Thomas Freistroffer-Certified Residential Appraiser is an FHA-certified appraisal service in Indiana.
We're qualified and approved to do reports for FHA secured financial transactions.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
The FHA does not loan money to borrowers. Rather, it provides lending organizations with security by offering mortgage insurance in case the borrower defaults on his or her financial obligations.
Low-income and moderate-income homebuyers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to assist credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Remember that the lending organization approving a loan backed by the Federal Housing Administration is permitted to pick which appraisers they work with, different from VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are particularly beneficial to those purchasers with less accessible cash.