The FHA maintains the rolls of approved appraisers for each state - all of the certified appraisers that are associated with The Coyle Group, LLC are on the roster of HUD approved appraisers for Pennsylvania. This means that we are certified and approved by the FHA to do appraisals for property loans insured by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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An FHA loan is underwritten by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers. Rather, it provides lending agencies with safety with mortgage insurance in case the borrower does not pay his or her loan obligations. The FHA and their loan programs are formed to help low-to-moderate income buyers by easing credit expectations. Remember, the FHA is different from the VA appraiser panel in that the lender can choose the appraisal company. |
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Consumers with lesser incomes or less starting money to put down on a financial transaction are helped the most from FHA loan programs.