is Maryland state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-mortgage, be sure to hire Atlantic Appraisal Company, Inc., as we are approved and qualified to perform FHA appraisals. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is backed by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). No part of the loan is provided by the FHA. What the FHA does is ensure that the mortgage is secure in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to aid credit-worthy consumers get approved for mortgages that they otherwise would not. Remember that the lending agency working with the the Federal Housing Administration is free to choose the appraisal company with which they'll work, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are incredibly helpful to those consumers with less accessible starting capital.
