Boardwalk Appraisal ServicesBoardwalk Appraisal Services is an FHA-certified appraisal service. This indicates that we are certified and approved by the FHA to do appraisal reports for home loans backed by HUD.
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 financial transaction is an FHA-insured loan, it means it is backed by them. None of the money in the loan is provided by the FHA. What the FHA does is make sure that the loan is taken care of in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are built to benefit low-to-moderate income consumers by easing credit expectations. Different from the VA appraiser panel, the lending agency working with FHA has the freedom to choose the appraiser. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Consumers with lesser incomes or less starting money to use as a down-payment on a mortgage are assisted the most from FHA loan programs.
M. Edward Biddison, Cert Res RD5378 |
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