Need an appraisal for an FHA-backed mortgage? Call FORREST & ASSOCIATESFORREST & ASSOCIATES is AL state certified and on the FHA Roster of approved residential appraisers. This means that we are certified and approved by the FHA to do appraisal reports for house loans insured by them. Part of the periodic training our staff at FORREST & ASSOCIATES completes deals precisely with decoding the FHA's documentation and their rules and procedures. Contact us today if you need to get an appraisal done on an FHA-insured loan. An FHA loan is insured by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The lending organization provides all the loaned money; the FHA simply insures the transaction through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to assist credit-worthy potential buyers to meet expectations and necessities for lending organizations that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are incredibly beneficial to those buyers with less available cash. |