The FHA maintains a list of approved appraisers for each state - Chesapeake Real Estate Appraisals, Inc is on the roster of approved appraisers for Maryland.
If you have an FHA-insured mortgage, be sure to hire Chesapeake Real Estate Appraisals, Inc, as we are approved and certified to perform FHA appraisals.
Part of the regular training our staff at Chesapeake Real Estate Appraisals, Inc undergoes deals exclusively with understanding the FHA's documentation and their rules and procedures.
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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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If your financial transaction is FHA certified, that means that it has been guaranteed by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
None of the money in the loan is provided by the FHA. What the FHA does is make sure that the loan is paid for in case the borrower defaults on his or her loan obligations.
Applicable to all homebuyers, FHA loan programs are made to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Remember that the lending agency working with the the Federal Housing Administration is free to pick which appraisers they work with, unlike the VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
Those with lower incomes or less starting funds to put down on a loan benefit the most from FHA loan programs.