is Maryland state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-loan, be sure to contact Herbert Martin, as we are approved and qualified to perform FHA appraisals. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Herbert Martin is well-trained on how to work in accordance with the rules and regulations provided.
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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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The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA-insured loan, it means it is insured by them. The FHA does not loan funds to borrowers. Rather, it provides lending organizations with security by offering mortgage insurance in case the borrower defaults on his or her financial obligations. The FHA and their loan programs are formed to benefit low-to-moderate income homebuyers by easing credit expectations. Remember that the lender working with the the Federal Housing Administration is allowed to select which appraisers they will use, different from 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 FHA provides are lifesavers to consumers with less starting income.
