The FHA retains a roster of approved appraisers for each state - Meredith Krulee is on the roster of approved appraisers for California. This indicates that she is certified and approved by the FHA to do appraisal reports for house loans insured by them. FHA's guidelines, documentation and policies may seem difficult to understand, but Meredith is well-trained on how to comply with the rules and regulations provided.
An FHA loan is insured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA. What the FHA does is make sure that the loan is secure in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are formed to assist low-to-moderate income homebuyers by easing credit requirements. Remember, the FHA deviates from the VA appraiser panel in that the lending organization can select the appraisal company.
Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are incredibly helpful to those purchasers with less accumulated funding.
