The FHA retains the rolls of approved appraisers for each state - Avalon Appraisers, LLC is on the roster of approved appraisers for Maryland. If you have an FHA-insured mortgage, be sure to get with Avalon Appraisers, LLC, as we are approved and qualified to handle FHA reports. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Avalon Appraisers, LLC is well-trained on how to follow the rules and regulations provided.
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 financial transaction is an FHA-insured loan, it means it is underwritten by them. None of the funds are provided by the FHA. What the FHA does is ensure that the mortgage is paid for in case the borrower defaults on his or her loan obligations. Accessible to all purchasers, FHA loan programs are formed to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans. Remember that the lender working with the the Federal Housing Administration is authorized to pick 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. Purchasers with lower incomes or less starting capital to use as a down-payment on a mortgage are helped the most from Federal Housing Administration loan programs.
