Need an appraisal for an FHA-backed mortgage? Call Deer Creek Appraisals
Rest assured that Deer Creek Appraisals is an FHA-approved appraisal service in CO. If you have an FHA-insured loan, be sure to get with Deer Creek Appraisals, as we are approved and qualified to produce FHA appraisal reports. A certain amount of the continuing training our staff at Deer Creek Appraisals completes deals exclusively with comprehending the FHA's documentation and their rules and procedures.
Be sure to contact Deer Creek Appraisals if you need an appraisal done for an FHA-secured loan.
An FHA loan is secured by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers, rather, it provides lenders with protection by offering mortgage insurance in case the borrower does not pay his or her financial obligations. Low-income and moderate-income borrowers benefit from an FHA-secured loan; the purpose of the Federal Housing Administration is to assist credit-worthy consumers to meet expectations and qualifications for lenders that they otherwise would not.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. The loan programs that the Federal Housing Administration provides are excessively helpful to consumers with less starting income.