Need an appraisal for an FHA-backed mortgage? Call Affordable Appraisals
Rest assured that Affordable Appraisals is an FHA-certified appraisal provider in FL. This means that we are certified and approved by the FHA to do appraisal reports for house loans insured by them. Part of the ongoing training our staff at Affordable Appraisals completes deals strictly with decoding the FHA's documentation and their rules and procedures.
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 organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-secured loan, it means it is insured by them. None of the money in the loan is provided by the FHA; what the FHA does is ensure that the mortgage is paid for in case the borrower defaults on his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-insured financial transaction; the point of the Federal Housing Administration is to assist credit-worthy potential 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. The loan programs that the Federal Housing Administration provides are exceedingly helpful to buyers with less starting income.