Need an appraisal for an FHA-backed mortgage? Call R. Scott Pierce Appraisal Services
Rest assured that R. Scott Pierce Appraisal Services is an FHA-certified appraisal company in MS. This indicates that we are certified and approved by the FHA to do appraisal reports for home loans insured by them. A portion of the periodic training our staff at R. Scott Pierce Appraisal Services receives deals strictly with decoding 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.
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 underwritten by them. None of the funds are provided by the FHA; what the FHA does is ensure that the loan is secure in case the borrower defaults on his or her loan obligations. Applicable to all consumers, FHA loan programs are designed to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are particularly beneficial to those purchasers with less accessible starting capital.