is Indiana state certified and on the FHA Roster of approved residential appraisers. This means that we are qualified and approved by the FHA to do appraisals for property loans insured by them. Part of the periodic training our staff at Indiana Appraisal Services receives deals exclusively with understanding the FHA's documentation and their rules and procedures.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA-insured loan, it means it is insured by them. The FHA does not loan funds to borrowers. Rather, it provides lending organizations with safety by offering mortgage insurance in case the borrower does not pay his or her loan obligations. The FHA and their loan programs are designed to assist low-to-moderate income purchasers by easing credit expectations. Remember, the FHA is different from the VA appraiser panel in that the lending organization can pick 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. FHA loan programs are particularly useful to those consumers with less accumulated starting capital.