Smith Appraisals can do FHA backed loansSmith Appraisals is WV state certified and on the FHA Roster of approved residential appraisers. Smith Appraisals is certified and approved to do appraisal reports for FHA secured loans. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Smith Appraisals is well-trained on how to work in accordance with the rules and regulations provided. If you're in need of an appraisal 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 agency in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA loan, it means it is insured by them. The lending company takes care of all the finances; the FHA simply secures the transaction with mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income borrowers benefit from an FHA-backed financial transaction; the point of the Federal Housing Administration is to assist credit-worthy potential buyers 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. The loan programs that the Federal Housing Administration offers are extremely beneficial to consumers with less starting income. |