R. Scott Pierce Appraisal Services
R. Scott Pierce Appraisal Services is MS state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-insured loan, be sure to call R. Scott Pierce Appraisal Services, as we are approved and certified to produce FHA appraisal reports. A certain amount of the ongoing training our staff at R. Scott Pierce Appraisal Services receives deals strictly with comprehending the FHA's documentation and their rules and procedures.
If you're in need of an appraisal for an FHA loan, please contact us, and we'll be able to help you right away.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA-insured loan, it means it is backed by them. The FHA does not provide funds to borrowers, rather, it provides lenders with security by offering mortgage insurance in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are formed to assist low-to-moderate income purchasers help meet credit qualifications if they otherwise would not.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Purchasers with lesser income or less starting capital to put down on a mortgage are helped the most from Federal Housing Administration loan programs.