Rest assured that Benchmark Appraisal Co., LLC is an FHA-approved appraisal firm in Missouri.
Benchmark Appraisal Co., LLC is certified and approved to do reports for FHA insured financial transactions.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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 financial transaction is an FHA-secured loan, it means it is backed by them.
None of the funds are provided by the FHA. What the FHA does is make sure that the loan is insured in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are designed to benefit low-to-moderate income consumers by easing credit expectations.
Remember, the FHA is different from the VA appraiser panel in that the lending agency 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.
FHA loan programs are extremely useful to those buyers with less available cash.
