The FHA publishes a roster of approved appraisers for each state - Beresford Appraisals is on the roster of approved appraisers for South Carolina. If you have an FHA-insured mortgage, be sure to call Beresford Appraisals, as we are approved and qualified to handle FHA reports. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Beresford Appraisals is well-trained on how to follow the rules and regulations provided.
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 loan is an FHA-insured loan, it means it is backed by them. The lender takes care of all the money in the loan - the FHA simply insures the transaction with mortgage insurance in case the borrower does not pay off his or her loan. Accessible to all homebuyers, FHA loan programs are formed to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Remember, the FHA differs from the VA appraiser panel in that the lender can choose 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. The loan programs that the FHA offers are invaluable to consumers with less starting income.
