Need an appraisal for an FHA-backed mortgage? Call Allatoona Appraisal
We confidently state that Allatoona Appraisal is an FHA-certified appraisal company in GA. This means that we are certified and approved by the FHA to do appraisal reports for house loans underwritten by them. A portion of the ongoing training our staff at Allatoona Appraisal completes deals strictly with understanding the FHA's documentation and their rules and procedures.
Be sure to contact Allatoona Appraisal if you need an appraisal done for an FHA-secured loan.
An FHA loan is underwritten by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The lending company takes care of all the finances; the FHA simply backs the loan through mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are designed to benefit low-to-moderate income homebuyers 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. The loan programs that the Federal Housing Administration provides are incredibly beneficial to consumers with less starting income.