Need an appraisal for an FHA-backed mortgage? Call Allatoona Appraisal
Rest assured that Allatoona Appraisal is an FHA-approved appraisal company in GA. If you have an FHA-mortgage, be sure to contact Allatoona Appraisal, as we are approved and qualified to produce FHA reports. 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.
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 backed by them. The lending company provides all the money in the loan; the FHA simply backs the loan through mortgage insurance in case the borrower does not pay off his or her loan. The FHA and their loan programs are built to aid low-to-moderate income buyers help meet credit expectations 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. The loan programs that the FHA provides are incredibly useful to purchasers with less starting capital.