We assure you that dda is an FHA-approved appraisal company in Nevada.
This indicates that we are certified and approved by the FHA to do appraisal reports for home loans underwritten by them.
A certain amount of the ongoing training our staff at dda undergoes deals precisely with comprehending the FHA's documentation and their rules and procedures.
If your loan is FHA approved, that means that it has been secured by the Federal Housing Administration, which is underneath the United States Department of Housing and Urban Development (HUD).
The FHA does not provide funds to borrowers. Rather, it provides lending agencies with protection with mortgage insurance in case the borrower does not pay his or her loan obligations.
The FHA and their loan programs are formed to assist low-to-moderate income homebuyers by easing credit expectations.
Remember that the lending organization approving a loan associated with the FHA is authorized to select the appraisal company with which they'll work, unlike the VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Purchasers with lower incomes or less starting money to put down on a mortgage are assisted the most from Federal Housing Administration loan programs.