Aaliyah Appraisals is ready for your FHA backed loans
The FHA keeps a roster of approved appraisers for each state - Aaliyah Appraisals is on the roster of approved appraisers for Co. This means that we are qualified and approved by the FHA to do reports for property loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Aaliyah Appraisals is well-trained on how to follow the rules and regulations provided.
Be sure to contact Aaliyah Appraisals if you need an appraisal done for an FHA-secured loan.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-insured loan, it means it is backed by them. The FHA does not loan money to borrowers, rather, it provides lending organizations with protection with mortgage insurance in case the borrower defaults on his or her financial obligations. Low-income and moderate-income homebuyers benefit from an FHA-secured loan; the point of the Federal Housing Administration is to assist credit-worthy consumers to meet expectations and qualifications for lenders 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. Those with lesser income or less starting capital to use as a down-payment on a mortgage are helped the most from FHA loan programs.