Need an appraisal for an FHA-backed mortgage? Call 1st Quality Appraisals, Inc
The FHA keeps a roster of approved appraisers for each state - 1st Quality Appraisals, Inc is on the roster of approved appraisers for CA. If you have an FHA-mortgage, be sure to hire 1st Quality Appraisals, Inc, as we are approved and qualified to handle FHA reports. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at 1st Quality Appraisals, Inc is well-trained on how to work in accordance with the rules and regulations provided.
Contact us today if you need to get an appraisal done on an FHA-insured loan.
If your home loan is FHA insured, that means that it has been secured by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD). The lender takes care of all the loaned money; the FHA simply secures the transaction by providing 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 point of the Federal Housing Administration is to cooperate with credit-worthy potential buyers to meet expectations and qualifications 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. FHA loan programs are incredibly helpful to those consumers with less accessible cash.