Need an appraisal for an FHA-backed mortgage? Call Sara ModockSara Modock is FL state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do appraisal reports for house loans underwritten by them. A certain amount of the periodic training our staff at Sara Modock completes deals precisely with understanding 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 underwritten by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The lender provides all the money in the loan; the FHA simply secures the transaction with mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income consumers benefit from an FHA-insured financial transaction; the purpose of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and requirements for lenders that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Purchasers with lower income or less starting capital to put down on a loan are helped the most from FHA loan programs. |