Need an appraisal for an FHA-backed mortgage? Call Village Appraisal Ltd.
Village Appraisal Ltd. is OH state certified and on the FHA Roster of approved residential appraisers. This indicates that we are certified and approved by the FHA to do appraisal reports for home loans insured by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Village Appraisal Ltd. is well-trained on how to follow the rules and regulations provided.
Be sure to contact Village Appraisal Ltd. if you need an appraisal done for an FHA-secured loan.
If your home loan is FHA insured, that means that the loan has been secured by the Federal Housing Administration, which is underneath the United States Department of Housing and Urban Development (HUD). The FHA does not loan funds to borrowers, rather, it provides lenders with security by offering mortgage insurance in case the borrower defaults on his or her financial obligations. The FHA and their loan programs are formed to help low-to-moderate income consumers help meet credit qualifications if 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 FHA offers are acutely useful to purchasers with less starting income.