Need an appraisal for an FHA-backed mortgage? Call Anderson Appraisal, LLC
We confidently state that Anderson Appraisal, LLC is an FHA-approved appraisal firm in TX. This indicates that we are qualified and approved by the FHA to do appraisal reports for house loans backed by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
Be sure to contact Anderson Appraisal, LLC 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 loan is an FHA loan, it means it is underwritten 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 loan obligations. Low-income and moderate-income consumers benefit from an FHA-insured loan; the purpose of the Federal Housing Administration is to assist credit-worthy potential buyers to meet expectations and qualifications for lending agencies that they otherwise would not.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the FHA offers are acutely useful to buyers with less starting income.