Davis Appraisal Service can do FHA loans
We confidently state that Davis Appraisal Service is an FHA-certified appraisal provider in TN. If you have an FHA-loan, be sure to call Davis Appraisal Service, as we are approved and certified to handle FHA appraisals. 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.
An FHA loan is underwritten by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending organization takes care of 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 homebuyers benefit from an FHA-secured financial transaction; the point of the Federal Housing Administration is to cooperate with credit-worthy buyers to meet expectations and requirements 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. Buyers with lesser income or less starting money to use as a down-payment on a mortgage benefit the most from Federal Housing Administration loan programs.