Foundation Appraisal Service Team can do FHA backed loans

The FHA retains of approved appraisers for each state - Foundation Appraisal Service Team is on the roster of approved appraisers for OH. This means that we are qualified and approved by the FHA to do appraisals for property loans insured by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Foundation Appraisal Service Team is well-trained on how to comply with 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 underwritten by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders with safety by offering mortgage insurance in case the borrower defaults on his or her loan obligations. Available to all buyers, FHA loan programs are formed to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.

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 incredibly beneficial to those purchasers with less available starting capital.