Rest assured that C.D. McCullough Real Estate Appraisal is an FHA-certified appraisal firm in California.
We are certified and approved to do reports for FHA secured financial transactions.
A certain amount of the ongoing training, that our staff undergoes, deals strictly with understanding the FHA's documentation and their rules and procedures.
An FHA loan is secured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD).
The FHA does not loan capital to borrowers. Rather, it provides lending organizations with security by offering mortgage insurance in case the borrower defaults on his or her financial obligations.
Accessible to all purchasers, FHA loan programs are designed to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Different from the VA appraiser panel, the lender working with Federal Housing Administration is allowed to select the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Those with lesser incomes or less starting capital to put down on a loan are assisted the most from Federal Housing Administration loan programs.