Need an appraisal for an FHA-backed mortgage? Call Residential AppraisalsThe FHA maintains of approved appraisers for each state - Residential Appraisals is on the roster of approved appraisers for RI. If you have an FHA-insured mortgage, be sure to get with Residential Appraisals, as we are approved and certified to handle FHA reports. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Residential Appraisals if you need an appraisal done for an FHA-secured 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-secured loan, it means it is backed by them. The lending company takes care of all the loaned money; the FHA simply secures the transaction through mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are designed to benefit low-to-moderate income purchasers help meet credit expectations if they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. The loan programs that the FHA provides are excessively useful to consumers with less starting capital. |