The FHA retains a list of approved appraisers for each state - A.C. Read Appraisal Service is on the roster of approved appraisers for Pennsylvania.
We are qualified and approved to do appraisals for FHA insured loans.
Part of the ongoing training our staff at A.C. Read Appraisal Service undergoes deals precisely with decoding the FHA's documentation and their rules and procedures.
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If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
The lending company provides all the funds being borrowed - the FHA simply insures the loan through mortgage insurance in case the borrower defaults on his or her loan.
Applicable to all homebuyers, FHA loan programs are made to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Remember, the FHA is different from the VA appraiser panel in that the lender can select 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.
Purchasers with lower incomes or less starting money to put down on a mortgage benefit the most from Federal Housing Administration loan programs.