We assure you that Scott Appraisal Services, Inc. is an FHA-approved appraisal provider in Florida.
This means that we are certified and approved by the FHA to do appraisals for property loans underwritten by them.
Part of the continuing training our staff at Scott Appraisal Services, Inc. receives deals precisely with decoding the FHA's documentation and their rules and procedures.
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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 financial transaction is an FHA-secured loan, it means it is secured by them.
The FHA does not provide funds to borrowers. Rather, it provides lending agencies with security with mortgage insurance in case the borrower defaults on his or her financial obligations.
Low-income and moderate-income consumers benefit the most from FHA-backed loan programs. The purpose of the Federal Housing Administration is to aid credit-worthy buyers get approved for mortgages that they otherwise would not.
Remember that the lending agency approving a loan associated with the Federal Housing Administration is able to choose which appraisers they work with, different from VA appraisal panel.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Buyers with lesser incomes or less starting money to use as a down-payment on a mortgage are assisted the most from Federal Housing Administration loan programs.