Need an appraisal for an FHA-backed mortgage? Call Richardson Appraisal ServiceThe FHA keeps a list of approved appraisers for each state - Richardson Appraisal Service is on the roster of approved appraisers for Tennessee. If you have an FHA-secured mortgage, be sure to get with Richardson Appraisal Service, as we are approved and certified to handle FHA reports. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Richardson Appraisal Service is well-trained on how to work in accordance with the rules and regulations provided.
An FHA loan is insured by the Federal Housing Administration, a federal organization within 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 mortgage is paid for in case the borrower doesn't pay their loan. Low-income and moderate-income consumers benefit the most from FHA-insured loan programs. The point of the Federal Housing Administration is to help credit-worthy potential buyers get approved for mortgages that they otherwise would not. Remember, the FHA is different from the VA appraiser panel in that the lending agency can pick the appraisal company. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are extremely useful to those purchasers with less accumulated funding. |
|||||||||
