Need an appraisal for an FHA-backed mortgage? Call National Home Appraisal Corporation
Rest assured that National Home Appraisal Corporation is an FHA-certified appraisal service in MA. This means that we are certified and approved by the FHA to do appraisals for home loans insured by them. 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 secured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers, rather, it provides lending agencies with safety through mortgage insurance in case the borrower defaults on his or her financial obligations. Low-income and moderate-income borrowers benefit from an FHA-insured financial transaction; the point of the Federal Housing Administration is to cooperate with credit-worthy potential buyers to meet expectations and qualifications for lenders 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. FHA loan programs are incredibly beneficial to those consumers with less accumulated cash.