The FHA keeps the rolls of approved appraisers for each state - Dan Anderson Real Estate Inc. is on the roster of approved appraisers for Maine.
This means that we are qualified and approved by the FHA to do appraisals for property loans underwritten by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your house loan is FHA certified, that means that the loan has been secured by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD).
The lender takes care of all the money in the loan - the FHA simply insures the loan with mortgage insurance in case the borrower does not pay off his or her loan.
Low-income and moderate-income consumers benefit the most from FHA-backed loan programs. The purpose of the Federal Housing Administration is to aid credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Remember, the FHA deviates from the VA appraiser panel in that the lending agency can pick 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.
FHA loan programs are extremely beneficial to those buyers with less available funding.
