Rest assured that Freedom Appraisals is an FHA-certified appraisal service in Ohio. We are certified and approved to do reports for FHA insured financial transactions. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Freedom Appraisals is well-trained on how to work in accordance with the rules and regulations provided.
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If you're in need of an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. |
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The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA-insured loan, it means it is secured by them. The FHA does not loan funds 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. Accessible to all homebuyers, FHA loan programs are formed to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Remember that the lending agency working with the the Federal Housing Administration is authorized to choose which appraisers they will use, unlike the 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 incredibly beneficial to those homebuyers with less accessible cash.