is Maine state certified and on the FHA Roster of approved residential appraisers.
This indicates that we are certified and approved by the FHA to do appraisal reports for home loans insured by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your loan is FHA insured, that means that the loan has been guaranteed by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD).
The lender takes care of all the loaned money - the FHA simply insures the loan through mortgage insurance in case the borrower defaults on his or her loan.
Low-income and moderate-income consumers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to assist credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Remember, the FHA deviates from the VA appraiser panel in that the lending organization can select the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Consumers with lower incomes or less starting capital to put down on a mortgage benefit the most from Federal Housing Administration loan programs.
