Need an appraisal for an FHA-backed mortgage? CallThe FHA retains of approved appraisers for each state - is on the roster of approved appraisers for . This indicates that we are qualified and approved by the FHA to do appraisals for house loans backed by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Contact us today if you need to get an appraisal done on an FHA-insured loan. The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-insured loan, it means it is backed by them. The lending company takes care of all the loaned money; the FHA simply backs the transaction through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income consumers benefit from an FHA-backed financial transaction; the purpose of the Federal Housing Administration is to cooperate with credit-worthy consumers to meet expectations and necessities for lending organizations that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Consumers with lesser income or less starting funds to put down on a mortgage are helped the most from FHA loan programs. |