We assure you that Appraisal Professionals is an FHA-approved appraisal service in TX. If you have an FHA-secured loan, be sure to call Appraisal Professionals, as we are approved and qualified to perform FHA appraisal reports. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Appraisal Professionals is well-trained on how to work in accordance with the rules and regulations provided.
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 financial transaction is an FHA-insured loan, it means it is underwritten by them. None of the funds are provided by the FHA; what the FHA does is make sure that the mortgage is taken care of in case the borrower doesn't pay their loan. Low-income and moderate-income homebuyers benefit from an FHA-insured loan; the point of the Federal Housing Administration is to help credit-worthy buyers to meet expectations and necessities for lending agencies 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. Those with lesser income or less starting capital to put down on a loan are assisted the most from Federal Housing Administration loan programs.