The FHA maintains a list of approved appraisers for each state - Steven M Shelamer is on the roster of approved appraisers for Oregon.
This indicates that we are certified and approved by the FHA to do appraisal reports for property loans backed by them.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Steven M Shelamer 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 lending organization takes care of all the money in the loan - the FHA simply insures the loan by providing mortgage insurance in case the borrower does not pay off his or her loan.
The FHA and their loan programs are created to help low-to-moderate income homebuyers by easing credit requirements.
Remember that the lending organization working with the the FHA is able to choose their appraisers, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
Buyers with lower incomes or less starting capital to put down on a mortgage are helped the most from FHA loan programs.