We're FHA Approved

Recently FHA added license type to their appraiser Roster information. As of 10/1/08 FHA will require certified appraisers, not licensed. The section of the new mortgage bailout bill refers to requiring state certification. Whether or not this will be modified is not known.

 Rest assured that at Bogris appraisal our FHA roster appraisers are state certified residential appraisers, and have successfully the required continuing education courses for FHA appraisals.

Go to http://www.hud.gov/groups/appraisers.cfm  to see what the new Roster looks like.

Our company is on the FHA Roster of approved certified residential appraisers. We're qualified and approved to do appraisals for FHA insured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents.

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.

An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on his or her loan obligations. Available to all buyers, FHA loan programs are designed to help creditworthy low-income and moderate-income families who do not meet requirements for conventional loans. Remember, the FHA is different from the VA appraiser panel in that the lender can choose the appraiser.

FHA loan programs are particularly beneficial to those buyers with less available cash. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.