The FHA publishes the rolls of approved appraisers for each state - Harold A. Scott and Co. is on the roster of approved appraisers for Connecticut.
This indicates that we are qualified and approved by the FHA to do reports for property loans underwritten by them.
FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Harold A. Scott and Co. is well-trained on how to comply with 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 financial transaction is an FHA-insured loan, it means it is secured by them.
None of the funds are provided by the FHA. What the FHA does is make sure that the loan is secure in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are built to help low-to-moderate income consumers by easing credit requirements.
Different from the VA appraiser panel, the lending organization working with Federal Housing Administration actually has the ability to 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 provides are lifesavers to consumers with minimal starting capital.
