Need an appraisal for an FHA-backed mortgage? Call ASAP Appraisal Group
We are happy to say that ASAP Appraisal Group is an FHA-certified appraisal firm in FL. ASAP Appraisal Group is qualified and approved to do appraisals for FHA insured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
Be sure to contact ASAP Appraisal Group if you need an appraisal done for an FHA-secured loan.
An FHA loan is insured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending company takes care of all the finances; the FHA simply secures the loan through mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income borrowers benefit from an FHA-secured loan; the purpose of the Federal Housing Administration is to aid credit-worthy potential 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. The loan programs that the Federal Housing Administration offers are acutely useful to purchasers with less starting capital.