is Tennessee state certified and on the FHA Roster of approved residential appraisers. This means that we are qualified and approved by the FHA to do reports for home loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Hayes Appraisal Group, Inc. is well-trained on how to follow the rules and regulations provided.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA loan, it means it is underwritten by them. None of the money in the loan is provided by the FHA. What the FHA does is make sure that the loan is taken care of in case the borrower doesn't pay their loan. Available to all homebuyers, FHA loan programs are designed to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Remember that the lending organization approving a loan backed by the Federal Housing Administration is authorized to choose the appraisal company with which they'll work, different from VA appraisal panel.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. The loan programs that the FHA offers are lifesavers to buyers with minimal starting income.
