The FHA retains the rolls of approved appraisers for each state - Matthew Cox is on the roster of approved appraisers for West Virginia. I'm certified and approved to do reports for FHA secured loans. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Lincoln Appraisal is well-trained on how to work in accordance with the rules and regulations provided.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA loan, it means it is underwritten by them. The lending company provides all the financing - the FHA simply insures the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan. The FHA and their loan programs are built to benefit low-to-moderate income purchasers by easing credit requirements. Unlike the VA appraiser panel, the lender working with Federal Housing Administration actually has the freedom to 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. Purchasers with lower incomes or less starting funds to use as a down-payment on a mortgage are helped the most from Federal Housing Administration loan programs.
