Astute Appraisals, Inc. is approved for FHA mortgages
The FHA retains of approved appraisers for each state - Astute Appraisals, Inc. is on the roster of approved appraisers for MD. This means that we are qualified and approved by the FHA to do appraisals for house loans underwritten by them. Part of the periodic training our staff at Astute Appraisals, Inc. undergoes deals precisely with decoding the FHA's documentation and their rules and procedures.
Be sure to contact Astute Appraisals, Inc. if you need an appraisal done for an FHA-secured loan.
If your property loan is FHA approved, that means that it has been guaranteed by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD). None of the funds are provided by the FHA; what the FHA does is make sure that the mortgage is paid for in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are designed to aid low-to-moderate income buyers help meet credit requirements if they otherwise would not.
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 provides are excessively beneficial to consumers with less starting capital.