The FHA keeps a roster of approved appraisers for each state - Timberline Appraising Inc. is on the roster of approved appraisers for Utah. This means that we are qualified and approved by the FHA to do appraisals for property loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Timberline Appraising Inc. is well-trained on how to work in accordance with the rules and regulations provided.
If your financial transaction is FHA certified, that means that the loan has been secured by the FHA, which is part of the United States Department of Housing and Urban Development (HUD). The lender takes care of all the loaned money - 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 designed to help low-to-moderate income consumers by easing credit qualifications. Remember that the lending agency approving a loan backed by the FHA is able to select their appraisers, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates. The loan programs that the FHA offers are lifesavers to purchasers with less starting capital.