Ferguson Appraisal can do FHA loansThe FHA publishes a list of approved appraisers for each state - Ferguson Appraisal is on the roster of approved appraisers for TX. This indicates that we are certified and approved by the FHA to do appraisals for property loans insured by them. Part of the continuing training our staff at Ferguson Appraisal undergoes deals precisely with comprehending the FHA's documentation and their rules and procedures. Be sure to contact Ferguson Appraisal 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 financial transaction is an FHA-insured loan, it means it is underwritten by them. The lender takes care of all the money in the loan; the FHA simply secures the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income borrowers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to aid credit-worthy consumers to meet expectations and necessities for lenders that they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. Purchasers with lower income or less starting funds to put down on a mortgage are helped the most from Federal Housing Administration loan programs. |