Need an appraisal for an FHA-backed mortgage? Call The Fourman Group

The FHA maintains of approved appraisers for each state - The Fourman Group is on the roster of approved appraisers for OH. We are certified and approved to do appraisal reports for FHA insured loans. Part of the regular training our staff at The Fourman Group completes deals precisely with comprehending the FHA's documentation and their rules and procedures.

If your loan is FHA approved, that means that it has been guaranteed by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD). The lending company takes care of all the finances; the FHA simply backs the loan with mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income consumers benefit from an FHA-backed loan; the point of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and qualifications for lending organizations that they otherwise would not.

Down payments are often lower with an FHA loan despite using conventional market rates. Buyers with lower income or less starting funds to put down on a loan benefit the most from FHA loan programs.