We are happy to say that Superior Appraisal Services, Inc. is an FHA-certified appraisal service in Maryland.
We're certified and approved to do appraisal reports for FHA insured financial transactions.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your loan is FHA insured, that means that it has been guaranteed by the FHA, which is part of the United States Department of Housing and Urban Development (HUD).
The FHA does not loan money to borrowers. Rather, it provides lending agencies with security through mortgage insurance in case the borrower does not pay his or her loan obligations.
Accessible to all homebuyers, FHA loan programs are formed to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Different from the VA appraiser panel, the lending agency working with Federal Housing Administration 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.
Buyers with lesser incomes or less starting capital to put down on a mortgage benefit the most from FHA loan programs.
