is Maryland state certified and on the FHA Roster of approved residential appraisers.
We are qualified and approved to do appraisals for FHA insured loans.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Parham Real Estate Services is well-trained on how to comply with the rules and regulations provided.
An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
No part of the loan is provided by the FHA. What the FHA does is ensure that the loan is paid for in case the borrower doesn't pay their loan.
Low-income and moderate-income consumers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to help credit-worthy buyers get approved for mortgages that they otherwise would not.
Remember that the lending organization working with the the Federal Housing Administration is permitted to select which appraisers they will use, different from VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Consumers with lower incomes or less starting money to use as a down-payment on a mortgage benefit the most from FHA loan programs.