Need an appraisal for an FHA-backed mortgage? Call Appraisal Associates of CT
Rest assured that Appraisal Associates of CT is an FHA-certified appraisal service in CT. If you have an FHA-insured mortgage, be sure to hire Appraisal Associates of CT, as we are approved and certified to produce FHA appraisal reports. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
Be sure to contact Appraisal Associates of CT if you need an appraisal done for an FHA-secured loan.
An FHA loan is backed by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending organization provides all the finances; the FHA simply secures the transaction with mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income consumers benefit from an FHA-secured financial transaction; the point 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 provides are acutely beneficial to buyers with less starting capital.