McCarthy Real Estate, Inc., Appraisal Services can do FHA mortgages
The FHA publishes a list of approved appraisers for each state - McCarthy Real Estate, Inc., Appraisal Services has appraisers on the roster of approved appraisers for OH and WV. 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.
Be sure to contact McCarthy Real Estate, Inc., Appraisal Services if you need an appraisal done for an FHA-secured loan.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-insured loan, it means it is underwritten by them. None of the funds are provided by the FHA; what the FHA does is make sure that the loan is taken care of in case the borrower defaults on his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-insured financial transaction; the point of the Federal Housing Administration is to help credit-worthy consumers to meet expectations and qualifications for lending agencies that they otherwise would not.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Those with lower income or less starting funds to put down on a mortgage are assisted the most from Federal Housing Administration loan programs.