1st Equity Appraisal1st Equity Appraisal is CA state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do reports for house loans underwritten by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact 1st Equity Appraisal if you need an appraisal done for an FHA-secured loan. An FHA loan is backed by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The lending organization takes care of all the money in the loan; the FHA simply insures the transaction with mortgage insurance in case the borrower defaults on his or her loan. Applicable to all homebuyers, FHA loan programs are created to aid credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Those with lesser income or less starting funds to use as a down-payment on a mortgage benefit the most from Federal Housing Administration loan programs. |