Clark Appraisal AssociatesClark Appraisal Associates is ME state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do appraisal reports for home loans insured by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Clark Appraisal Associates 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 loan, it means it is underwritten by them. None of the money in the loan is provided by the FHA; what the FHA does is ensure that the loan is secure in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are formed to help low-to-moderate income purchasers help meet credit requirements if 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. FHA loan programs are incredibly useful to those purchasers with less accumulated starting capital. |