Need an appraisal for an FHA-backed mortgage? Call R. Scott Pierce Appraisal Services
R. Scott Pierce Appraisal Services is MS state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do reports for house loans insured by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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 insured by them. The lending organization provides all the money in the loan; the FHA simply secures the transaction through mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are formed to help low-to-moderate income buyers help meet credit expectations if 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 consumers with less accumulated starting capital.