Need an appraisal for an FHA-backed mortgage? Call Cathy MullinsCathy Mullins is TN state certified and on the FHA Roster of approved residential appraisers. This means that we are certified and approved by the FHA to do reports for property loans backed by them. A portion of the periodic training our staff at Cathy Mullins receives deals precisely with comprehending the FHA's documentation and their rules and procedures. If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. 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 loan, it means it is insured by them. The lender takes care of all the finances; the FHA simply secures the loan through mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income consumers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to aid credit-worthy consumers to meet expectations and qualifications 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. Those with lower income or less starting capital to put down on a mortgage are helped the most from Federal Housing Administration loan programs. |