is Ohio state certified and on the FHA Roster of approved residential appraisers.
This indicates that we are certified and approved by the FHA to do reports for house loans backed by them.
A portion of the ongoing training our staff at R.A. Reynolds Appraisal Service Inc. receives deals exclusively with comprehending the FHA's documentation and their rules and procedures.
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If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. |
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If your 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 lending company takes care of all the loaned money - the FHA simply insures the transaction with mortgage insurance in case the borrower defaults on his or her loan.
Applicable to all purchasers, FHA loan programs are built to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Different from the VA appraiser panel, the lending agency working with FHA actually has the freedom to choose 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.
Purchasers with lower incomes or less starting capital to use as a down-payment on a loan are helped the most from FHA loan programs.