Need an appraisal for an FHA-backed mortgage? Call Reliable Appraisals Inc.
Reliable Appraisals Inc. is KY state certified and on the FHA Roster of approved residential appraisers. Reliable Appraisals Inc. is certified and approved to do reports for FHA insured financial transactions. A portion of the periodic training our staff at Reliable Appraisals Inc. receives deals precisely with understanding the FHA's documentation and their rules and procedures.
Contact us today if you need to get an appraisal done on an FHA-insured loan.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA loan, it means it is backed by them. None of the funds are provided by the FHA; what the FHA does is make sure that the loan is secure in case the borrower defaults on his or her loan obligations. Available to all consumers, FHA loan programs are created to aid credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Purchasers with lesser income or less starting money to use as a down-payment on a financial transaction are helped the most from FHA loan programs.