We confidently state that Appraisal Research and Development, Inc. is an FHA-approved appraisal practice in Nevada. If you have an FHA-mortgage, be sure to get with Appraisal Research and Development, Inc., as we are approved and certified to perform FHA appraisal reports. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA loan, it means it is underwritten by them. None of the funds are provided by the FHA. What the FHA does is make sure that the mortgage is secure in case the borrower defaults on his or her loan obligations. Accessible to all purchasers, FHA loan programs are made to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans. Remember that the lending agency working with the the Federal Housing Administration is allowed to select the appraisal company with which they'll work, different from VA appraisal panel. Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are extremely useful to those homebuyers with less accessible funding.