Need an appraisal for an FHA-backed mortgage? Call Davis Appraisal Service
The FHA keeps a roster of approved appraisers for each state - Davis Appraisal Service is on the roster of approved appraisers for TN. We are qualified and approved to do appraisal reports for FHA secured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
Be sure to contact Davis Appraisal Service if you need an appraisal done for an FHA-secured loan.
If your financial transaction is FHA approved, that means that the loan has been secured by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA; what the FHA does is ensure that the mortgage is taken care of in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are formed to benefit low-to-moderate income buyers help meet credit qualifications if 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. Buyers with lesser income or less starting money to use as a down-payment on a loan are helped the most from FHA loan programs.