Rest assured that Platinum Appraisal Services is an FHA-approved appraisal service in Florida.
If you have an FHA-insured mortgage, be sure to hire Platinum Appraisal Services, as we are approved and qualified to handle FHA appraisals.
Part of the regular training our staff at Platinum Appraisal Services receives deals precisely with understanding the FHA's documentation and their rules and procedures.
An FHA loan is backed by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD).
The lender takes care of all the financing - the FHA simply backs the transaction with mortgage insurance in case the borrower defaults on his or her loan.
Low-income and moderate-income consumers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to aid credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Remember, the FHA is different from the VA appraiser panel in that the lender 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.
Buyers with lower incomes or less starting funds to put down on a mortgage are assisted the most from FHA loan programs.
