We are happy to say that Miller Appraisal Inc. is an FHA-certified appraisal provider in Texas.
If you have an FHA-secured loan, be sure to contact Miller Appraisal Inc., as we are approved and qualified to handle FHA reports.
FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Miller Appraisal Inc. is well-trained on how to work in accordance with the rules and regulations provided.
An FHA loan is underwritten by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD).
The FHA does not loan capital to borrowers. Rather, it provides lending agencies with protection 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-secured loan programs. The purpose of the Federal Housing Administration is to help credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Unlike the VA appraiser panel, the lending agency working with FHA actually has the freedom to select the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Consumers with lesser incomes or less starting money to put down on a financial transaction are assisted the most from Federal Housing Administration loan programs.
