Need an appraisal for an FHA-backed mortgage? Call Lundquist Appraisals & Real Estate Services
Rest assured that Lundquist Appraisals & Real Estate Services is an FHA-certified appraisal company in IN. If you have an FHA-insured mortgage, be sure to hire Lundquist Appraisals & Real Estate Services, as we are approved and certified to handle 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 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 secured by them. The FHA does not loan capital to borrowers, rather, it provides lending organizations with security by offering mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to assist credit-worthy potential buyers to meet expectations and requirements for lending agencies that they otherwise would not.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the FHA offers are extremely useful to consumers with less starting capital.