The FHA retains a list of approved appraisers for each state - Mulcock Appraising is on the roster of approved appraisers for Utah.
If you have an FHA-insured loan, be sure to get with Mulcock Appraising, as we are approved and certified to handle FHA appraisal reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your property loan is FHA approved, that means that the loan has been secured by the FHA, which is part of the United States Department of Housing and Urban Development (HUD).
The FHA does not loan capital to borrowers. Rather, it provides lenders with protection through mortgage insurance in case the borrower does not pay his or her financial obligations.
The FHA and their loan programs are designed to assist low-to-moderate income consumers by easing credit qualifications.
Remember, the FHA is different from the VA appraiser panel in that the lending organization can choose the appraisal company.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Consumers with lesser incomes or less starting money to put down on a mortgage benefit the most from FHA loan programs.
