Need an appraisal for an FHA-backed mortgage? Call Lundquist Appraisals & Real Estate Services
The FHA maintains of approved appraisers for each state - Lundquist Appraisals & Real Estate Services is on the roster of approved appraisers for IN. If you have an FHA-secured loan, be sure to get with Lundquist Appraisals & Real Estate Services, as we are approved and qualified to perform FHA appraisal reports. 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 loan is an FHA-secured loan, it means it is underwritten by them. The FHA does not loan funds to borrowers, rather, it provides lending agencies with security with mortgage insurance in case the borrower does not pay his or her loan obligations. The FHA and their loan programs are built to benefit low-to-moderate income consumers 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. Consumers with lesser income or less starting money to put down on a loan are assisted the most from Federal Housing Administration loan programs.