Need an appraisal for an FHA-backed mortgage? Call Prospect AppraisalProspect Appraisal is MI state certified and on the FHA Roster of approved residential appraisers. We're certified and approved to do reports for FHA secured financial transactions. A portion of the continuing training our staff at Prospect Appraisal undergoes deals strictly with understanding the FHA's documentation and their rules and procedures. If you need an report for an FHA loan, please contact us, and we'll be able to help you right away. An FHA loan is secured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA; what the FHA does is make sure that the mortgage is secure in case the borrower doesn't pay their loan. The FHA and their loan programs are created to benefit low-to-moderate income buyers help meet credit qualifications if they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the FHA offers are excessively helpful to buyers with less starting income. |