Need an appraisal for an FHA-backed mortgage? Call Appraisal Advantage, Inc
Thomas Bailey, of Appraisal Advantage, Inc is Florida state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-insured mortgage, be sure to call Appraisal Advantage, Inc, as we are approved and certified to produce FHA appraisal reports. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
Be sure to contact Appraisal Advantage, Inc if you need an appraisal done for an FHA-secured loan.
An FHA loan is underwritten by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders with safety by offering mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-backed loan; the point of the Federal Housing Administration is to assist credit-worthy buyers to meet expectations and requirements for lending agencies that they otherwise would not.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Consumers with lesser income or less starting money to use as a down-payment on a mortgage benefit the most from FHA loan programs.