is Massachusetts state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-secured loan, be sure to contact Schaeffer Appraisal Services, as we are approved and certified to produce FHA reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your home loan is FHA insured, that means that it has been secured by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD).
The lending company takes care of all the money in the loan - the FHA simply secures the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan.
The FHA and their loan programs are created to help low-to-moderate income consumers by easing credit expectations.
Remember that the lender approving a loan associated with the FHA is authorized to select their appraisers, different from VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are incredibly helpful to those consumers with less accessible starting capital.
