Rest assured that Centennial Appraisal Group, Inc. is an FHA-approved appraisal provider in Colorado. If you have an FHA-loan, be sure to contact Centennial Appraisal Group, Inc., as we are approved and qualified to perform FHA appraisal reports. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your loan is FHA certified, that means that the loan has been secured by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD). The lender takes care of all the funds being borrowed - the FHA simply backs the loan by providing mortgage insurance in case the borrower does not pay off his or her loan. Accessible to all homebuyers, FHA loan programs are designed to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans. Remember that the lending organization working with the the Federal Housing Administration is permitted to select the appraisal company with which they'll work, different from VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the FHA provides are extremely beneficial to purchasers with less starting capital.
