The FHA retains the rolls of approved appraisers for each state - Adam A. Gromko is on the roster of approved appraisers for California. This indicates that we are qualified and approved by the FHA to do reports for house loans underwritten by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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If you're in need of an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. |
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If your financial transaction is FHA insured, that means that it has been guaranteed by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA. What the FHA does is ensure that the loan is paid for in case the borrower doesn't pay their loan. Low-income and moderate-income borrowers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to aid credit-worthy families and individuals get approved for mortgages that they otherwise would not. Unlike the VA appraiser panel, the lender working with Federal Housing Administration actually has the ability to pick 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. Buyers with lower incomes or less starting capital to put down on a financial transaction are assisted the most from FHA loan programs.