Need an appraisal for an FHA-backed mortgage? Call Reliable Appraisals Inc.
Rest assured that Reliable Appraisals Inc. is an FHA-certified appraisal practice in KY. We are qualified and approved to do reports for FHA secured loans. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Reliable Appraisals Inc. is well-trained on how to work in accordance with the rules and regulations provided.
Be sure to contact Reliable Appraisals Inc. 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-insured loan, it means it is underwritten by them. The lending organization takes care of all the money in the loan; the FHA simply backs the loan through mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income consumers benefit from an FHA-insured loan; the point of the Federal Housing Administration is to assist credit-worthy buyers to meet expectations and requirements for lending organizations 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. FHA loan programs are incredibly helpful to those purchasers with less accumulated cash.