Rest assured that Advanced Appraisal Services is an FHA-certified appraisal practice in Tennessee. If you have an FHA-secured loan, be sure to call Mansfield Realty Group, as we are approved and qualified to perform FHA appraisals. Part of the ongoing training our staff at Mansfield Realty Group undergoes deals exclusively with understanding the FHA's documentation and their rules and procedures.
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If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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An FHA loan is backed by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). No part of the loan is provided by the FHA. What the FHA does is make sure that the mortgage is paid for in case the borrower doesn't pay their loan. The FHA and their loan programs are created to aid low-to-moderate income purchasers by easing credit qualifications. Remember that the lender approving a loan backed by the Federal Housing Administration is free to pick the appraisal company with which they'll work, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are extremely beneficial to those homebuyers with less available starting capital.