We confidently state that Kardos Appraisal & Consulting Corp. is an FHA-approved appraisal practice in Florida.
This means that we are qualified and approved by the FHA to do appraisals for property loans underwritten by them.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Kardos Appraisal & Consulting Corp. is well-trained on how to comply with the rules and regulations provided.
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 financial transaction is an FHA-secured loan, it means it is secured by them.
The FHA does not loan money to borrowers, rather, it provides lending agencies with security by offering mortgage insurance in case the borrower does not pay his or her financial obligations.
Low-income and moderate-income borrowers benefit the most from FHA-backed loan programs; the purpose of the Federal Housing Administration is to help credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Unlike the VA appraiser panel, the lending organization working with Federal Housing Administration has the freedom to pick the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are extremely helpful to those homebuyers with less accumulated cash.
