Need an appraisal for an FHA-backed mortgage? Call Nordquist AppraisalNordquist Appraisal is Pennsylvania state certified and on the FHA Roster of approved residential appraisers. Nordquist Appraisal is qualified and approved to do appraisals for FHA insured financial transactions. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your loan is FHA approved, 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 loan capital to borrowers. Rather, it provides lending organizations with safety through mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income consumers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to help credit-worthy families and individuals get approved for mortgages that they otherwise would not. Unlike the VA appraiser panel, the lending agency working with FHA has the ability to 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 homebuyers with less available starting capital.