The FHA keeps a roster of approved appraisers for each state - Northstar Appraisal is on the roster of approved appraisers for Maine.
We are certified and approved to do appraisal reports for FHA secured loans.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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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 house loan is FHA insured, that means that the loan has been guaranteed by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD).
The lender takes care of all the loaned money - the FHA simply backs the transaction by providing mortgage insurance in case the borrower defaults on his or her loan.
The FHA and their loan programs are created to help low-to-moderate income consumers by easing credit qualifications.
Remember, the FHA differs from the VA appraiser panel in that the lending agency can select 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.
The loan programs that the FHA provides are incredibly useful to consumers with minimal starting income.