Need an appraisal for an FHA-backed mortgage? Call Davis Appraisal Service
The FHA retains of approved appraisers for each state - Davis Appraisal Service is on the roster of approved appraisers for TN. We are certified and approved to do appraisal reports for FHA insured financial transactions. A portion of the periodic training our staff at Davis Appraisal Service completes deals strictly with comprehending the FHA's documentation and their rules and procedures.
Contact us today if you need to get an appraisal done on an FHA-insured loan.
An FHA loan is insured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending company provides all the finances; the FHA simply secures the transaction through mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are created to aid low-to-moderate income homebuyers 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 Federal Housing Administration provides are incredibly helpful to buyers with less starting income.