The FHA publishes a list of approved appraisers for each state - Cruden Appraisal Inc. is on the roster of approved appraisers for Colorado.
If you have an FHA-insured loan, be sure to contact Cruden Appraisal Inc., as we are approved and qualified to produce FHA appraisal reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is underwritten by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
The lending organization provides all the loaned money - the FHA simply secures the loan with mortgage insurance in case the borrower defaults on his or her loan.
Low-income and moderate-income borrowers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to help credit-worthy buyers get approved for mortgages that they otherwise would not.
Unlike the VA appraiser panel, the lending agency working with FHA has the ability to pick the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
The loan programs that the Federal Housing Administration offers are lifesavers to purchasers with minimal starting income.
