Need an appraisal for an FHA-backed mortgage? Call Maven Appraisal Services
Maven Appraisal Services is AZ state certified and on the FHA Roster of approved residential appraisers. We're qualified and approved to do reports for FHA insured financial transactions. A certain amount of the periodic training our staff at Maven Appraisal Services undergoes deals precisely with comprehending the FHA's documentation and their rules and procedures.
Be sure to contact Maven Appraisal Services if you need an appraisal done for an FHA-secured loan.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA-secured loan, it means it is underwritten by them. No part of the loan is provided by the FHA; what the FHA does is ensure that the mortgage is taken care of in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-secured financial transaction; the purpose of the Federal Housing Administration is to help credit-worthy buyers to meet expectations and qualifications for lending agencies 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 beneficial to those purchasers with less available cash.