The FHA retains a list of approved appraisers for each state - All appraisers at John Pratt Appraisal Services are on the roster of FHA approved appraisers for California.
If you have an FHA-insured loan, be sure to call John Pratt, as we are approved and qualified to produce FHA appraisal reports.
FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at John Pratt Appraisal Services is well-trained on how to follow the rules and regulations provided.
An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
The lender provides all the funds being borrowed - the FHA simply backs the loan by providing mortgage insurance in case the borrower does not pay off his or her loan.
Low-income and moderate-income consumers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to aid credit-worthy potential buyers get approved for mortgages that they otherwise may not qualify.
Unlike the VA appraiser panel, the lending organization working with FHA is allowed to select the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are incredibly useful to those purchasers with less accessible starting capital.
