The FHA retains a list of approved appraisers for each state - Richard Mulderick FVM Appraisals is on the roster of approved appraisers for Maryland.
This means that we are qualified and approved by the FHA to do appraisals for home loans underwritten by them.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Richard Mulderick FVM Appraisals is well-trained on how to comply with the rules and regulations provided.
If your property loan is FHA insured, that means that it has been guaranteed by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD).
The FHA does not loan capital to borrowers. Rather, it provides lending agencies with safety by offering mortgage insurance in case the borrower does not pay his or her financial obligations.
The FHA and their loan programs are designed to aid low-to-moderate income consumers by easing credit expectations.
Remember that the lender approving a loan associated with the Federal Housing Administration is free to select which appraisers they work with, different from VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are extremely beneficial to those buyers with less available funding.
