We confidently state that Axelrod Realty & Appraisal is an FHA-approved appraisal company in Rhode Island. This means that we are certified and approved by the FHA to do appraisal reports for property loans backed by them. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Axelrod Realty & Appraisal is well-trained on how to follow the rules and regulations provided.
 |
 |
 |
If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
|
|
An FHA loan is secured by the Federal Housing Administration, a federal agency 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 see to it that the mortgage is taken care of in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are built to benefit low-to-moderate income homebuyers by easing credit qualifications. Remember, the FHA is different from the VA appraiser panel in that the lending agency can select the appraisal company.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Consumers with lesser incomes or less starting money to use as a down-payment on a mortgage are assisted the most from Federal Housing Administration loan programs.