is Mississippi state certified and on the FHA Roster of approved residential appraisers. We are certified and approved to do appraisal reports for FHA secured financial transactions. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at R. Scott Pierce Appraisal Services is well-trained on how to comply with the rules and regulations provided.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA-secured loan, it means it is backed by them. The lender provides all the funds being borrowed - the FHA simply backs the transaction with mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are built to help low-to-moderate income homebuyers by easing credit qualifications. Different from the VA appraiser panel, the lender working with Federal Housing Administration is allowed to select the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. The loan programs that the Federal Housing Administration offers are incredibly helpful to purchasers with less starting capital.
