Need an appraisal for an FHA-backed mortgage? Call Reliable Appraisals Inc.
We assure you that Reliable Appraisals Inc. is an FHA-certified appraisal service in KY. If you have an FHA-insured loan, be sure to hire Reliable Appraisals Inc., as we are approved and qualified to perform FHA reports. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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 organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-secured loan, it means it is secured by them. The FHA does not loan capital to borrowers, rather, it provides lending organizations with protection with mortgage insurance in case the borrower does not pay his or her financial obligations. Low-income and moderate-income homebuyers benefit from an FHA-insured loan; the point of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and qualifications for lending organizations that they otherwise would not.
Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are incredibly useful to those buyers with less accumulated cash.