Need an appraisal for an FHA-backed mortgage? Call Appraisal Professionals
We assure you that Appraisal Professionals is an FHA-approved appraisal service in TX. We're certified and approved to do appraisal reports for FHA insured loans. Part of the periodic training our staff at Appraisal Professionals receives 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.
An FHA loan is backed by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending organization takes care of all the money in the loan; the FHA simply secures the transaction through mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income borrowers benefit from an FHA-insured loan; the purpose of the Federal Housing Administration is to assist credit-worthy consumers to meet expectations and necessities for lending organizations that 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. Purchasers with lower income or less starting funds to use as a down-payment on a mortgage are assisted the most from FHA loan programs.