We confidently state that Billings Real Estate Appraisal is an FHA-approved appraisal firm in Tennessee.
This means that we are certified and approved by the FHA to do appraisals for property loans backed by them.
A certain amount of the ongoing training our staff at Billings Real Estate Appraisal undergoes deals strictly with decoding the FHA's documentation and their rules and procedures.
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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. |
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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 FHA does not loan capital to borrowers. Rather, it provides lending agencies with protection with mortgage insurance in case the borrower defaults on his or her financial obligations.
The FHA and their loan programs are designed to aid low-to-moderate income buyers by easing credit expectations.
Remember, the FHA is different from the VA appraiser panel in that the lending organization can choose the appraisal company.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are particularly helpful to those consumers with less accessible cash.