Russell Appraisal Service is your FHA certified appraisal company
The FHA maintains of approved appraisers for each state - Russell Appraisal Service is on the roster of approved appraisers for TX. We are qualified and approved to do appraisal reports for FHA insured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If you're in need of an report for an FHA loan, please contact us, and we'll be able to help you right away.
An FHA loan is secured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending organization provides all the loaned money; the FHA simply backs the transaction by providing mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-backed financial transaction; the purpose of the Federal Housing Administration is to cooperate with credit-worthy potential buyers to meet expectations and necessities for lenders that they otherwise would not.
Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are incredibly beneficial to those purchasers with less accessible starting capital.