is Texas state certified and on the FHA Roster of approved residential appraisers. This means that we are certified and approved by the FHA to do appraisals for house loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Tejas Appraisal Company is well-trained on how to follow 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 loan is an FHA-secured loan, it means it is underwritten by them. The lending organization provides all the funds being borrowed - the FHA simply secures the loan through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income homebuyers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to aid credit-worthy consumers get approved for mortgages that they otherwise would not. Unlike the VA appraiser panel, the lender working with FHA has the freedom to choose the appraiser. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Consumers with lower incomes or less starting funds to use as a down-payment on a financial transaction are helped the most from Federal Housing Administration loan programs.