Need an appraisal for an FHA-backed mortgage? Call Ray Hall AppraisalsWe are happy to say that Ray Hall Appraisals is an FHA-approved appraisal company in FL. This indicates that we are qualified and approved by the FHA to do reports for house loans backed by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Ray Hall Appraisals if you need an appraisal done for an FHA-secured loan. If your home loan is FHA approved, that means that it has been guaranteed by the Federal Housing Administration, which is underneath the United States Department of Housing and Urban Development (HUD). The lender provides 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-insured loan; the purpose of the Federal Housing Administration is to help credit-worthy consumers to meet expectations and qualifications 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. The loan programs that the FHA offers are exceedingly helpful to purchasers with less starting income. |