Russell Appraisal Service is your FHA certified appraisal company
We confidently state that Russell Appraisal Service is an FHA-approved appraisal practice in TX. We're certified and approved to do appraisal reports for FHA insured financial transactions. A certain amount of the ongoing training our staff at Russell Appraisal Service receives deals strictly 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.
If your property loan is FHA approved, that means that it has been guaranteed by the Federal Housing Administration, which is underneath the United States Department of Housing and Urban Development (HUD). The lending organization takes care of all the money in the loan; the FHA simply backs the loan with 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 consumers help meet credit qualifications if they otherwise would not.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the Federal Housing Administration provides are extremely helpful to purchasers with less starting income.