is Louisiana state certified and on the FHA Roster of approved residential appraisers. This indicates that we are certified and approved by the FHA to do reports for property loans backed by them. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Romano & Associates is well-trained on how to comply with the rules and regulations provided.
If your financial transaction is FHA approved, that means that the loan has been guaranteed by the Federal Housing Administration, which is part 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 secure in case the borrower doesn't pay their loan. Low-income and moderate-income homebuyers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to aid credit-worthy potential buyers get approved for mortgages that they otherwise would not. Remember that the lender approving a loan backed by the FHA is able to pick which appraisers they will use, unlike the VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are extremely helpful to those purchasers with less accumulated cash.
