We assure you that Mark Revak Inc is an FHA-approved appraisal practice in Florida.
This indicates that we are qualified and approved by the FHA to do appraisals for house loans backed by them.
Part of the regular training our staff at Mark Revak Inc completes deals precisely with comprehending the FHA's documentation and their rules and procedures.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA-insured loan, it means it is underwritten by them.
No part of the loan is provided by the FHA. What the FHA does is see to it that the loan is taken care of in case the borrower doesn't pay their loan.
Low-income and moderate-income consumers benefit the most from FHA-backed loan programs. The purpose of the Federal Housing Administration is to assist credit-worthy consumers get approved for mortgages that they otherwise would not.
Remember, the FHA is different from the VA appraiser panel in that the lender can pick 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.
FHA loan programs are extremely helpful to those consumers with less accumulated funding.
