Need an appraisal for an FHA-backed mortgage? Call Appraisal EquityAppraisal Equity is UT state certified and on the FHA Roster of approved residential appraisers. This indicates that we are certified and approved by the FHA to do appraisals for property loans insured by them. A certain amount of the continuing training our staff at Appraisal Equity completes deals exclusively with understanding the FHA's documentation and their rules and procedures. Be sure to contact Appraisal Equity if you need an appraisal done for an FHA-secured 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 underwritten by them. The lender takes care of all the money in the loan; the FHA simply backs the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income borrowers benefit from an FHA-secured loan; the purpose of the Federal Housing Administration is to cooperate with credit-worthy potential buyers to meet expectations and requirements for lending agencies 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 capital. |