Rest assured that DS Real Estate Consulting, Inc. is an FHA-approved appraisal provider in Ohio. We are certified and approved to do reports for FHA secured financial transactions. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA-secured loan, it means it is insured by them. No part of the loan is provided by the FHA. What the FHA does is ensure that the mortgage is secure in case the borrower defaults on his or her loan obligations. Applicable to all consumers, FHA loan programs are built to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Remember that the lending organization approving a loan backed by the Federal Housing Administration is allowed to select the appraisal company with which they'll work, unlike the VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates. Buyers with lesser incomes or less starting capital to put down on a loan are helped the most from FHA loan programs.
