We confidently state that Evans Appraisal Services is an FHA-approved appraisal practice in Pennsylvania.
Evans Appraisal Services is qualified and approved to do appraisals for FHA insured loans.
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.
The FHA does not loan money to borrowers. Rather, it provides lending organizations with security by offering mortgage insurance in case the borrower does not pay his or her financial obligations.
Available to all purchasers, FHA loan programs are created to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Unlike the VA appraiser panel, the lender working with Federal Housing Administration has the ability to select the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Consumers with lesser incomes or less starting money to put down on a mortgage benefit the most from Federal Housing Administration loan programs.
