Need an appraisal for an FHA-backed mortgage? Call S&N Appraisal, IncWe are happy to say that S&N Appraisal, Inc is an FHA-certified appraisal company in Florida. If you have an FHA-insured mortgage, be sure to get with S&N Appraisal, Inc, as we are approved and certified to handle FHA appraisals. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at S&N Appraisal, Inc is well-trained on how to follow the rules and regulations provided.
An FHA loan is secured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers. Rather, it provides lenders with safety with mortgage insurance in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are designed to help low-to-moderate income buyers by easing credit expectations. Remember that the lender working with the the Federal Housing Administration is allowed to choose their appraisers, unlike the VA appraisal panel. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Buyers with lower incomes or less starting money to put down on a mortgage benefit the most from FHA loan programs. |
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