is Ohio state certified and on the FHA Roster of approved residential appraisers.
This indicates that we are certified and approved by the FHA to do reports for home loans backed by them.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Cornerstone Appraisal Services is well-trained on how to follow the rules and regulations provided.
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If you're in need of an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. |
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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 financial transaction is an FHA loan, it means it is insured by them.
The lending organization takes care of all the financing - the FHA simply backs the loan through mortgage insurance in case the borrower does not pay off his or her loan.
Low-income and moderate-income borrowers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to aid credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Remember that the lending organization working with the the FHA is allowed to select which appraisers they will use, unlike the 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 extremely beneficial to those purchasers with less accessible funding.