is Maryland state certified and on the FHA Roster of approved residential appraisers.
We're qualified and approved to do reports for FHA insured loans.
Part of the ongoing training our staff at Jim Audas, Jr. completes deals strictly with understanding the FHA's documentation and their rules and procedures.
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If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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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-secured loan, it means it is underwritten by them.
None of the money in the loan is provided by the FHA. What the FHA does is ensure that the loan is paid for in case the borrower defaults on his or her loan obligations.
Low-income and moderate-income homebuyers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to help credit-worthy buyers get approved for mortgages that they otherwise would not.
Remember, the FHA deviates from the VA appraiser panel in that the lending agency can choose the appraisal company.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Those with lesser incomes or less starting capital to use as a down-payment on a mortgage are helped the most from Federal Housing Administration loan programs.