Need an appraisal for an FHA-backed mortgage? Call Omotoso & AssociatesThe FHA keeps a roster of approved appraisers for each state - Omotoso & Associates is on the roster of approved appraisers for MD. This means that we are certified and approved by the FHA to do appraisal reports for house loans backed by them. If you're in need of an report for an FHA loan, please contact us, and we'll be able to help you right away. If your financial transaction is FHA insured, that means that it has been secured by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD). 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 loan obligations. Low-income and moderate-income borrowers benefit from an FHA-secured financial transaction; the purpose of the Federal Housing Administration is to assist credit-worthy buyers to meet expectations and qualifications for lenders that they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. Consumers with lesser income or less starting capital to put down on a loan are assisted the most from Federal Housing Administration loan programs. |