Total Appraisal Services, Inc.The FHA maintains a list of approved appraisers for each state - Total Appraisal Services, Inc. is on the roster of approved appraisers for Pennsylvania. We are qualified and approved to do reports for FHA insured loans. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Total Appraisal Services, Inc. is well-trained on how to follow the rules and regulations provided.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA-secured loan, it means it is underwritten by them. The lending organization provides all the money in the loan - the FHA simply secures the transaction through mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income homebuyers benefit the most from FHA-backed loan programs. The purpose of the Federal Housing Administration is to aid credit-worthy buyers get approved for mortgages that they otherwise would not. Remember that the lending agency working with the the Federal Housing Administration is permitted to choose their appraisers, 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. Consumers with lesser incomes or less starting funds to put down on a loan are helped the most from Federal Housing Administration loan programs. |
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