A. M. Appraisals can do FHA mortgages
Rest assured that A. M. Appraisals is an FHA-approved appraisal provider in SC. This means that we are qualified and approved by the FHA to do appraisal reports for property loans underwritten by them. A certain amount of the periodic training our staff at A. M. Appraisals receives deals exclusively with understanding the FHA's documentation and their rules and procedures.
Contact us today if you need to get an appraisal done on an FHA-insured loan.
An FHA loan is secured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The lender provides all the loaned money; the FHA simply insures the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan. Accessible to all homebuyers, FHA loan programs are made to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
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 FHA offers are excessively beneficial to buyers with less starting income.