We confidently state that Main Street Appraisal Service is an FHA-certified appraisal company in Florida.
This indicates that we are certified and approved by the FHA to do reports for property loans insured by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is insured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD).
The FHA does not loan capital to borrowers. Rather, it provides lenders with protection by offering mortgage insurance in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are designed to benefit low-to-moderate income buyers by easing credit requirements.
Remember, the FHA deviates from the VA appraiser panel in that the lending organization can select the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Purchasers with lesser incomes or less starting money to use as a down-payment on a mortgage are helped the most from FHA loan programs.
