Need an appraisal for an FHA-backed mortgage? Call 1st Quality Appraisals, Inc
1st Quality Appraisals, Inc is CA state certified and on the FHA Roster of approved residential appraisers. 1st Quality Appraisals, Inc is certified and approved to do reports for FHA insured financial transactions. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
Be sure to contact 1st Quality Appraisals, Inc if you need an appraisal done for an FHA-secured loan.
An FHA loan is backed by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The lender takes care of all the loaned money; the FHA simply insures the transaction through mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-insured financial transaction; the point of the Federal Housing Administration is to help credit-worthy consumers to meet expectations and necessities for lending organizations that 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 excessively useful to purchasers with less starting income.