The FHA retains the rolls of approved appraisers for each state - Maryann Ostolaza Appraisal Services, Inc. is on the roster of approved appraisers for Florida.
This means that we are qualified and approved by the FHA to do appraisal reports for house loans insured by them.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Maryann Ostolaza Appraisal Services, Inc. is well-trained on how to comply with the rules and regulations provided.
If your home loan is FHA certified, that means that it has been secured by the Federal Housing Administration, which is underneath the United States 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 mortgage is taken care of in case the borrower doesn't pay their loan.
Available to all buyers, FHA loan programs are formed to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Different from the VA appraiser panel, the lending organization working with Federal Housing Administration has the freedom to choose 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.
FHA loan programs are extremely helpful to those consumers with less accessible funding.