is Pennsylvania state certified and on the FHA Roster of approved residential appraisers, certified and approved to do appraisal reports for FHA secured loans. A certain amount of the ongoing training deals exclusively with decoding the FHA's documentation and their rules and procedures.
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). None of the money in the loan is provided by the FHA. What the FHA does is ensure that the loan is insured in case the borrower doesn't pay their loan. Low-income and moderate-income borrowers benefit the most from FHA-insured loan programs. The point of the Federal Housing Administration is to assist credit-worthy potential buyers get approved for mortgages that they otherwise would not. Remember that the lending organization approving a loan backed by the Federal Housing Administration is able to pick the appraisal company with which they'll work, unlike the VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Buyers with lesser incomes or less starting money to put down on a mortgage benefit the most from FHA loan programs.
