Need an appraisal for an FHA-backed mortgage? Call Appraisal Solutions, LLC - Durango
We assure you that Appraisal Solutions, LLC - Durango is an FHA-certified appraisal company in CO. We're certified and approved to do appraisal reports for FHA insured financial transactions. 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.
If your home loan is FHA insured, that means that it has been guaranteed by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD). The FHA does not loan funds to borrowers, rather, it provides lending organizations with security by offering 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 assist credit-worthy consumers to meet expectations and necessities 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 extremely useful to consumers with less starting income.