The FHA keeps a list of approved appraisers for each state - Norm W. Scharkopf & Associates, LLC is on the roster of approved appraisers for Maryland.
Norm W. Scharkopf & Associates, LLC is certified and approved to do reports for FHA secured loans.
Part of the regular training our staff at Norm W. Scharkopf & Associates, LLC completes deals exclusively with understanding the FHA's documentation and their rules and procedures.
An FHA loan is secured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD).
The lender takes care of all the funds being borrowed - the FHA simply backs the loan by providing mortgage insurance in case the borrower does not pay off his or her loan.
The FHA and their loan programs are created to help low-to-moderate income consumers by easing credit requirements.
Remember that the lending agency working with the the Federal Housing Administration is permitted to choose 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 lower incomes or less starting capital to put down on a loan are helped the most from FHA loan programs.