is Maryland state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-mortgage, be sure to contact Matthew Wood Appraisal Service, LLC, as we are approved and certified to handle FHA appraisals. 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 that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan funds to borrowers. Rather, it provides lending organizations with security by offering mortgage insurance in case the borrower does not pay his or her loan obligations. The FHA and their loan programs are formed to benefit low-to-moderate income buyers by easing credit expectations. Different from the VA appraiser panel, the lender working with FHA 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. The loan programs that the Federal Housing Administration offers are lifesavers to consumers with less starting capital.
