Need an appraisal for an FHA-backed mortgage? Call Deer Creek Appraisals
Rest assured that Deer Creek Appraisals is an FHA-certified appraisal firm in CO. This means that we are certified and approved by the FHA to do reports for home loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Deer Creek Appraisals is well-trained on how to comply with the rules and regulations provided.
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 secured by them. The FHA does not provide funds to borrowers, rather, it provides lending agencies with safety with mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-secured financial transaction; the point of the Federal Housing Administration is to aid credit-worthy consumers to meet expectations and requirements for lenders that 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 beneficial to those buyers with less accessible cash.