Chester NeveThe FHA maintains of approved appraisers for each state - Chester Neve is on the roster of approved appraisers for PA. This indicates that we are qualified and approved by the FHA to do reports for house loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Chester Neve is well-trained on how to follow the rules and regulations provided. Be sure to contact Chester Neve if you need an appraisal done for an FHA-secured loan. The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-secured loan, it means it is secured by them. The FHA does not provide funds to borrowers, rather, it provides lending agencies with safety with mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income consumers benefit from an FHA-secured loan; the purpose of the Federal Housing Administration is to assist credit-worthy potential buyers to meet expectations and necessities 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. The loan programs that the FHA provides are excessively helpful to buyers with less starting capital. |