Residential Appraisal ServiceWe assure you that Residential Appraisal Service is an FHA-approved appraisal practice in MD. This indicates that we are qualified and approved by the FHA to do appraisals for house loans backed by them. A certain amount of the ongoing training our staff at Residential Appraisal Service completes deals precisely with comprehending the FHA's documentation and their rules and procedures. If you're in need of an report for an FHA loan, please contact us, and we'll be able to help you right away. 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 secured by them. The FHA does not provide funds to borrowers, rather, it provides lending agencies with protection through mortgage insurance 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 consumers help meet credit expectations if they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the FHA provides are incredibly beneficial to consumers with less starting capital. |