The FHA keeps a roster of approved appraisers for each state - GKS Realty & Appraisal Service is on the roster of approved appraisers for Pennsylvania.
This means that we are certified and approved by the FHA to do reports for house loans backed by them.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at GKS Realty & Appraisal Service is well-trained on how to work in accordance with the rules and regulations provided.
If your loan is FHA approved, that means that it has been guaranteed by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
None of the funds are provided by the FHA. What the FHA does is ensure that the loan is paid for in case the borrower doesn't pay their loan.
Applicable to all purchasers, FHA loan programs are designed 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 lending organization working with Federal Housing Administration is allowed to choose the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
The loan programs that the FHA provides are lifesavers to consumers with less starting income.
