Need an appraisal for an FHA-backed mortgage? Call The Appraisal Firm
Rest assured that The Appraisal Firm is an FHA-approved appraisal firm in CA. This means that we are certified and approved by the FHA to do reports for home loans insured 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.
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). None of the funds are provided by the FHA; what the FHA does is ensure that the loan is secure in case the borrower defaults on his or her loan obligations. Applicable to all buyers, FHA loan programs are designed to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Consumers with lower income or less starting money to use as a down-payment on a mortgage are assisted the most from Federal Housing Administration loan programs.