We assure you that ALSouth Appraisal Services LLC is an FHA-certified appraisal company in Alabama.
We're certified and approved to do appraisal reports for FHA secured loans.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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-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 doesn't pay their loan.
The FHA and their loan programs are created to help low-to-moderate income purchasers by easing credit requirements.
Remember that the lending organization working with the the Federal Housing Administration is free to pick which appraisers they work with, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
The loan programs that the Federal Housing Administration offers are extremely useful to purchasers with minimal starting income.