Rest assured that Nobles Appraisal Express is an FHA-approved appraisal firm in Ohio.
We are certified and approved to do appraisals for FHA secured loans.
A portion of the regular training our staff at Nobles Appraisal Express completes deals exclusively with decoding the FHA's documentation and their rules and procedures.
An FHA loan is underwritten by the Federal Housing Administration, a federal agency within the U.S. 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 insured in case the borrower defaults on his or her loan obligations.
Low-income and moderate-income homebuyers benefit the most from FHA-secured loan programs. The purpose of the Federal Housing Administration is to help credit-worthy consumers get approved for mortgages that they otherwise would not.
Different from the VA appraiser panel, the lender working with FHA is allowed to select the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Consumers with lesser incomes or less starting money to use as a down-payment on a loan are helped the most from Federal Housing Administration loan programs.
