is Texas state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-insured mortgage, be sure to call Residential Appraisal Service, as we are approved and qualified to handle FHA reports.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Residential Appraisal Service is well-trained on how to comply with the rules and regulations provided.
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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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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-secured loan, it means it is underwritten by them.
The lender takes care of all the financing - the FHA simply secures the loan with mortgage insurance in case the borrower does not pay off his or her loan.
Available to all purchasers, FHA loan programs are formed to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Unlike the VA appraiser panel, the lender working with FHA is allowed to pick the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Those with lower incomes or less starting capital to use as a down-payment on a mortgage are helped the most from FHA loan programs.