Rest assured that Electronic Appraisals is an FHA-certified appraisal service in Florida.
This indicates that we are certified and approved by the FHA to do reports for home loans insured by them.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Electronic Appraisals is well-trained on how to work in accordance with the rules and regulations provided.
An FHA loan is underwritten by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
The lending organization takes care of all the financing - the FHA simply secures the loan with mortgage insurance in case the borrower defaults on his or her loan.
Low-income and moderate-income consumers benefit the most from FHA-secured loan programs. The purpose of the Federal Housing Administration is to help credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Remember that the lending organization working with the the Federal Housing Administration is able to pick their appraisers, unlike the VA appraisal panel.
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 incredibly beneficial to consumers with minimal starting income.
