Need an appraisal for an FHA-backed mortgage? Call Bowers Real Estate & Appraisal Services
We assure you that Bowers Real Estate & Appraisal Services is an FHA-approved appraisal firm in CA. This indicates that we are certified and approved by the FHA to do appraisals for property loans backed by them. A certain amount of the ongoing training our staff at Bowers Real Estate & Appraisal Services receives deals exclusively with comprehending the FHA's documentation and their rules and procedures.
Be sure to contact Bowers Real Estate & Appraisal Services 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 loan, it means it is insured by them. The lender takes care of all the finances; the FHA simply insures the loan through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income consumers benefit from an FHA-secured financial transaction; the point of the Federal Housing Administration is to help credit-worthy consumers to meet expectations and requirements 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. FHA loan programs are incredibly helpful to those buyers with less accessible funding.