is Arizona state certified and on the FHA Roster of approved residential appraisers.
McKinnon Appraisal Associates is certified and approved to do reports for FHA insured financial transactions.
Part of the regular training our staff at McKinnon Appraisal Associates undergoes deals precisely with decoding the FHA's documentation and their rules and procedures.
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 financial transaction is an FHA-insured loan, it means it is insured by them.
The FHA does not loan capital to borrowers. Rather, it provides lending agencies with protection by offering mortgage insurance in case the borrower does not pay his or her financial obligations.
The FHA and their loan programs are created to help low-to-moderate income homebuyers by easing credit expectations.
Remember, the FHA deviates from the VA appraiser panel in that the lending agency can choose the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
The loan programs that the FHA offers are invaluable to consumers with minimal starting income.
