is Pennsylvania state certified and on the FHA Roster of approved residential appraisers.
This means that we are qualified and approved by the FHA to do appraisals for home loans backed by them.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Pocono Mountain Appraisal, Inc. is well-trained on how to work in accordance with 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 financial transaction is an FHA loan, it means it is insured by them.
The FHA does not loan money to borrowers. Rather, it provides lending agencies with protection with mortgage insurance in case the borrower does not pay his or her loan obligations.
The FHA and their loan programs are created to benefit low-to-moderate income consumers by easing credit qualifications.
Different from the VA appraiser panel, the lender working with FHA is allowed to select the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
The loan programs that the FHA offers are lifesavers to purchasers with less starting income.