Need an appraisal for an FHA-backed mortgage? Call Michael StrattonMichael Stratton is CA state certified and on the FHA Roster of approved residential appraisers. This indicates that we are certified and approved by the FHA to do appraisals for home loans insured by them. Part of the continuing training our staff at Michael Stratton undergoes deals exclusively with understanding the FHA's documentation and their rules and procedures. If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. An FHA loan is underwritten by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). None of the funds are provided by the FHA; what the FHA does is make sure that the mortgage is secure in case the borrower doesn't pay their loan. Low-income and moderate-income homebuyers benefit from an FHA-insured financial transaction; the point of the Federal Housing Administration is to aid credit-worthy potential buyers to meet expectations and necessities for lending organizations that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the FHA offers are extremely helpful to buyers with less starting capital. |