Need an appraisal for an FHA-backed mortgage? Call Susan Scotto Allison
The FHA retains of approved appraisers for each state - Susan Scotto Allison is on the roster of approved appraisers for AZ. This means that we are qualified and approved by the FHA to do appraisal reports for house loans underwritten by them. A portion of the regular training our staff at Susan Scotto Allison receives deals precisely with comprehending the FHA's documentation and their rules and procedures.
Be sure to contact Susan Scotto Allison if you need an appraisal done for an FHA-secured loan.
An FHA loan is backed 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 takes care of all the loaned money; the FHA simply backs the transaction with mortgage insurance in case the borrower does not pay off his or her loan. Applicable to all purchasers, FHA loan programs are created to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Down payments are often lower with an FHA loan despite using conventional market rates. The loan programs that the Federal Housing Administration provides are incredibly useful to purchasers with less starting capital.