Need an appraisal for an FHA-backed mortgage? Call Central Alabama AppraisalCentral Alabama Appraisal is AL state certified and on the FHA Roster of approved residential appraisers. We're qualified and approved to do appraisals for FHA secured loans. A portion of the continuing training our staff at Central Alabama Appraisal receives deals strictly with decoding the FHA's documentation and their rules and procedures. If you're in need of an report for an FHA loan, please contact us, and we'll be able to help you right away. 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-secured loan, it means it is underwritten by them. The lending company provides all the finances; the FHA simply insures the loan through mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income borrowers benefit from an FHA-secured loan; the point of the Federal Housing Administration is to help credit-worthy buyers to meet expectations and requirements for lenders that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are particularly helpful to those homebuyers with less accessible cash. |