So what is the story regarding the appraisal process and USDA loans? USDA loans are not required to go through all the new HVCC appraisal policy as Conventional / FHA loans today. There is no requirement that the appraisal has to be done by a independent third party appraisal management company ( AMC) What does this mean? The mortgage lender or broker can still pick the appraiser they want to use like in the past with all other loans. The appraisals just has to be completed by a FHA approved appraiser (most are today) and meet the normal FHA/HUD requirements.
More control = good news! After all we don’t want the AMC to pick the appraiser located in Ocala to do an appraisal for a home located in Gainesville? Yes, it happens. Many realtors, etc, are aware of the damage the new HVCC policies have done. With USDA loans, this is not a concern……. yet anyway.
USDA Mortgage Source is Florida’s LOCAL leader for all 100% USDA / RD home loans. Serving all of Florida including Alachua county( Gainesville , Newberry , High Springs , Archer ) and everywhere in between – please visit our main web site at www.UsdaMortgageSource.com or call 800-743-7556 to learn more about the benefits of 100% USDA / Rural Development home loans here in Florida. We are available to serve you seven days a week.
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