Russell Appraisal Service is ready for your FHA work
The FHA maintains of approved appraisers for each state - Russell Appraisal Service is on the roster of approved appraisers for TX. We are certified and approved to do appraisal reports for FHA secured loans. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Russell Appraisal Service is well-trained on how to follow the rules and regulations provided.
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-insured loan, it means it is insured by them. The lender takes care of all the loaned money; the FHA simply secures the loan with mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are created to benefit low-to-moderate income consumers help meet credit expectations if they otherwise would not.
Down payments are often lower with an FHA loan despite using conventional market rates. The loan programs that the FHA provides are extremely beneficial to purchasers with less starting capital.