is Maryland state certified and on the FHA Roster of approved residential appraisers.
This indicates that we are certified and approved by the FHA to do reports for house loans insured by them.
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 organization in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA-secured loan, it means it is underwritten by them.
The FHA does not loan money to borrowers. Rather, it provides lending agencies with security through mortgage insurance in case the borrower defaults on his or her financial obligations.
The FHA and their loan programs are formed to benefit low-to-moderate income buyers by easing credit expectations.
Remember that the lending agency approving a loan associated with the Federal Housing Administration is allowed to select the appraisal company with which they'll work, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
The loan programs that the FHA offers are invaluable to buyers with less starting income.