Need an appraisal for an FHA-backed mortgage? Call GatewayAppraisals
GatewayAppraisals is IN state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-secured loan, be sure to get with GatewayAppraisals, as we are approved and qualified to handle FHA reports. Part of the periodic training our staff at GatewayAppraisals completes deals strictly with comprehending the FHA's documentation and their rules and procedures.
If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away.
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 financial transaction is an FHA loan, it means it is backed by them. The lending organization provides all the loaned money; the FHA simply secures the transaction through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income borrowers benefit from an FHA-secured financial transaction; the purpose of the Federal Housing Administration is to assist credit-worthy buyers to meet expectations and requirements for lending organizations that they otherwise would not.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. The loan programs that the Federal Housing Administration offers are exceedingly useful to purchasers with less starting capital.