is Florida state certified and on the FHA Roster of approved residential appraisers. ADK Appraisal Services is qualified and approved to do reports for FHA insured financial transactions. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The lender provides all the funds being borrowed - the FHA simply secures the loan by providing mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are designed to aid low-to-moderate income purchasers by easing credit requirements. Remember that the lender approving a loan backed by the FHA is allowed to select which appraisers they work with, unlike the VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates. Buyers with lesser incomes or less starting capital to put down on a mortgage benefit the most from FHA loan programs.
