The FHA retains a roster of approved appraisers for each state - Atlantic Valuation Group is on the roster of approved appraisers for Massachusetts.
This indicates that we are certified and approved by the FHA to do appraisal reports for house loans insured by them.
A certain amount of the regular training our staff at Atlantic Valuation Group receives deals precisely with decoding the FHA's documentation and their rules and procedures.
If your house loan is FHA insured, that means that it has been guaranteed by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD).
No part of the loan is provided by the FHA. What the FHA does is see to it that the loan is taken care of in case the borrower doesn't pay their loan.
The FHA and their loan programs are built to benefit low-to-moderate income buyers by easing credit expectations.
Different from the VA appraiser panel, the lender working with FHA actually has the freedom to select the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Consumers with lower incomes or less starting capital to use as a down-payment on a financial transaction benefit the most from FHA loan programs.
