Statewide Appraisal Service of Memphis LLC can do FHA loansStatewide Appraisal Service of Memphis LLC is TN state certified and on the FHA Roster of approved residential appraisers. We are certified and approved to do appraisal reports for FHA insured financial transactions. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Statewide Appraisal Service of Memphis LLC 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-insured loan, it means it is secured by them. The FHA does not loan funds to borrowers, rather, it provides lenders with safety through mortgage insurance in case the borrower defaults on his or her financial obligations. Low-income and moderate-income consumers benefit from an FHA-insured loan; the point of the Federal Housing Administration is to cooperate with credit-worthy potential buyers to meet expectations and necessities for lenders that they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. The loan programs that the FHA offers are excessively useful to buyers with less starting capital. |