is Massachusetts state certified and on the FHA Roster of approved residential appraisers.
This indicates that we are qualified and approved by the FHA to do reports for house loans underwritten by them.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at D.C. Appraisal Service is well-trained on how to follow the rules and regulations provided.
If your property loan is FHA certified, that means that it has been secured by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
The FHA does not provide funds to borrowers. Rather, it provides lenders with protection through mortgage insurance in case the borrower does not pay his or her financial obligations.
Low-income and moderate-income borrowers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to aid credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Unlike the VA appraiser panel, the lending agency working with FHA is allowed to pick the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
The loan programs that the Federal Housing Administration provides are lifesavers to consumers with less starting income.